Jon Arnold, Principal at J Arnold & Associates

“I can’t think of anyone who’s had a second bankruptcy in this space.”

Arnold added: “Someone is going to be caretaker or custodian financially of whatever the assets of the business are. And they’ll have to make some kind of a determination about what the pieces are worth and probably have to sell them off. That’s my guess. I really don’t want to be that bleak. I’m still very pro-Avaya for their survival.”

Regarding leadership, he said: 

“Alan Masarek is the right man for the job. If anybody can get through this rough road here, it’s him. But the bottom line is when you escalate from just financial teeter-tottering to now lawsuits and claims of fraud, that’s a whole other level of problem. And the good news, I suppose, is the stock doesn’t have much further to fall. So how much worse can it get?”