LaunchdDaemon not responding

I found that I have this LaunchdDaemon file in my Activity Monitor, which is RED and not responding. Inspecting, I find that it is in the Avid Application Support folder. I read elsewhere that a user just took the file out and it fixed the problem, so I have done the same by dragging it to my desktop.



What is this file for and is it okay to remove it, since it is crashing all the time?