Avaya reseller pleads guilty to role in $88m licensing scam A New Jersey man has plead guilty to selling pirated Avaya software licenses, allegedly generated and shopped by one of the vendor's system administrators. News of the plea came from the US Department of Justice, which last Friday identified Jason M. Hines – aka Joe Brown, aka Chad Johnson, aka Justin Albaum – as the operator …
Feb 2023 A group of bondholder investors have accused Avaya of ‘massive fraud’ in a lawsuit brought against the multinational tech firm in the US this week. The lawsuit for $125 million was filed on Feb 1 by the plaintiffs, including Angelo Gordon & Co., Canyon Partners and Mariner Investment Group, at New York Supreme Court, according to Bloomberg.
The investors claim to hold unsecured convertible notes with a value north of $100 million, issued to them in 2018. They claim Avaya’s board misrepresented its fiscal quarter results ending in March 2022 and looked to refinance the notes to raise new funds. The lawsuit brought by the bondholders revealed they continued to hold onto their notes based on the fiscal report, but they now believe it was falsely misrepresented.
Except that had the the fiscal report said what they think it should have said, they would have lost their money on publication of it.
People who bought the bonds on the basis of that fiscal report would have a better case.
Assuming obviously that their claims about mis-statement are correct. I don't have an opinion on that because I don't know anything about their financials.
The Register 
Biting the hand that feeds IT
Copyright. All rights reserved © 1998–2024
