Avid Delays Financial Reporting, But Promises Brighter Future, Including Pro Tools and Sibelius

Avid, makers of Pro Tools, Media Composer, Sibelius, and other products was on Tuesday suspended from being traded on the NASDAQ stock exchange because of a failure to issue timely financial statements. And the company by the admission of its own chief executive faces a changing industry. However, our earlier report included inaccurate information from financial analysis site The Street. Their report included outdated financial data. Our reporting was not correct; we have since spoken to Avid. The Street reporting (and thus ours, in building a report on it) was inaccurate and misleading in that financial data for Avid actually …

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