San Diego, CA -- (SBWIRE) -- 10/20/2022 -- An investigation was announced over potential breaches of fiduciary duties by certain directors at Avaya Holdings Corp.

Investors who purchased shares of Avaya Holdings Corp. (NYSE: AVYA) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Avaya Holdings directors breached their fiduciary duties and caused damage to the company and its shareholders.

Durham, NC based Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. On August 9, 2022, Avaya Holdings Corp. released its preliminary third quarter 2022 financial results, reporting sales of $577 million, down 20% year-over-year in constant currency. Avaya Holdings Corp. provided no explanation for the earnings miss, but disclosed that there is "substantial doubt about the Company's ability to continue as a going concern." The Company also announced that its audit committee is investigating a whistleblower letter and its recent earnings report. As an article by The Wall Street Journal pointed out, Avaya Holdings Corp. missed earnings and cut its earnings forecast by 60% just weeks after borrowing $600 million from institutional investors in June.

Shares of Avaya Holdings Corp. (NYSE: AVYA) declined on August 09, 2022, to $0.596 per share.

Those who purchased shares of Avaya Holdings Corp. (NYSE: AVYA) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.