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As expected, Avid falls out of compliance

Avid said it intends to submit a plan to regain compliance with Nasdaq’s requirements.
Pat Greenhouse/Globe staff/file
Avid said it intends to submit a plan to regain compliance with Nasdaq’s requirements.
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Avid Technology Inc., a Burlington company that recently postponed its earnings results to evaluate its ­accounting practices, said that as expected it has been notified by Nasdaq it is no longer in compliance with the exchange’s listing requirements. Avid said it alerted the SEC earlier this month that it was unable to file the required paperwork before its due date because it is evaluating the accounting treatment related to bug fixes, upgrades, and enhancements in certain of the company’s customer arrangements.