Avid announced that it has received approval to re-list its common stock on the Nasdaq stock market, effective with the open of trading on 8 December 2014.
The Company will continue to trade under the symbol AVID. The company was de-listed from the stock exchange in February 2014 following an accounting restatement.
Avid’s accounting issue caused a restatement about how Avid accounts for improvements to their software over time. They had to go back eight years and cover every single release for every single customer during that period, which is why it has taken so long.
This entire process saw Avid shares moved to the OTC markets while the issue was resolved. Following this, the shares have now moved back to the Nasdaq.
Avid believes this milestone will offer current and future Avid shareholders an exciting opportunity to share in the success of Avid’s business through improved access to their common stock.
