NEW YORK, NY / ACCESSWIRE / August 15, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of AvidXchange Holdings, Inc. ("AvidXchange") (NASDAQ:AVDX) concerning possible violations of federal securities laws.
AvidXchange conducted its initial public offering ("IPO") on or around October 12, 2021, selling 26.4 million shares priced at $25.00. Then, on July 31, 2024, AvidXchange issued a press release announcing its financial results for the second quarter of 2024. Among other items, AvidXchange reported revenue of $105.13 million, missing consensus estimates by $1.75 million. The Company also revised its fiscal year 2024 revenue guidance downward to a range of $436 million to $439 million, compared to previous guidance of $442 million to $448 million.
Following this news, AvidXchange's stock price dropped over 29% on July 31, 2024. To obtain additional information, go to:
https://zlk.com/pslra-1/avidxchange-lawsuit-submission-form?prid=95923&wire=1
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212)363-7500
Fax: (212)363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP
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