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NEW YORK, Jan. 04, 2023 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP announces that on behalf of investors investing in Avaya Holdings Corp. (“Avaya” or the “Company”) purchased or acquired a securities class action lawsuit has been filed”) AVYA between November 22, 2021 and November 29, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Middle District of North Carolina alleging violations of the Securities Exchange Act of 1934.

Avaya claims to be a “leading global provider of digital communications products, solutions and services to businesses of all sizes, offering its technology primarily through software and services”. The company claims that its “global, experienced team of professionals delivers award-winning services from initial planning and design, through seamless implementation and integration, to ongoing managed operations, optimization, training and support.”

Plaintiff alleges that throughout the Class Period, Defendants made materially false and misleading statements. Specifically, Plaintiff alleges that the Defendants failed to disclose: (i) the Company’s internal control over financial reporting (“ICFR”) was deficient in a number of areas; (ii) as a result of these deficiencies, the Company had failed to develop and maintain effective controls over its whistleblower policy and ethics and compliance program; and (iii) the company’s deteriorating financial condition would likely cast significant doubt on its ability to continue as a going concern.

On July 28, 2022, Avaya announced the termination of its chief executive officer, James M. Chirico, Jr. The Company also announced preliminary financial results for the third quarter of 2022, which include expected revenues and Adjusted EBITDA…