Nassda Comments On State Litigation Developments
June 14 2004 - 4:01AM
PR Newswire (US)
Nassda Comments On State Litigation Developments SANTA CLARA,
Calif., June 14 /PRNewswire-FirstCall/ -- Nassda Corp.
(NASDAQ:NSDA) today commented on the rulings and orders recently
issued in California state court by the discovery referee with
respect to its litigation with Synopsys, Inc. As Nassda reported in
January 2003 and September 2003, the discovery referee previously
issued orders that created certain "rebuttable presumptions" in
favor of Synopsys. On June 11, 2004, the discovery referee vacated
the orders creating the rebuttable presumptions but issued orders
against Nassda and the individual defendants in a manner that is
favorable to Synopsys and not favorable to Nassda and the
individual defendants. These orders limit Nassda's defenses
regarding the timing and the development of the initial HSIM source
code and the evidence that Nassda and the remaining individual
defendants can present at trial. For purposes of trial, among other
things, the orders established as facts that: (i) the first 60,000
lines of source code of HSIM and all ideas and concepts reflected
therein, to the extent they were not publicly known, were derived
from Synopsys' source code or other Synopsys' materials while the
individual defendants were employed by Synopsys and (ii) Nassda and
the individual defendants acted in concert to intentionally alter,
destroy, lose or misplace items requested in discovery and conceal
evidence. These orders also struck the answer of one individual
defendant, Jeh-Fu Tuan. The discovery referee denied Synopsys'
request to strike the answers of Nassda and the remaining
individual defendants. The discovery referee granted in part and
denied in part Nassda's request to preclude Synopsys from revising
and broadening substantially its alleged trade secrets that are the
subject of the litigation. The discovery referee also ordered
Synopsys to provide discovery to Nassda on certain of the alleged
trade secrets. "There have been many preliminary rulings in this
case, and we expect many more as the current discovery process
continues," said Dr. Sang Wang, Chief Executive Officer. "Some of
the rulings are favorable to us and others are not. None of these
rulings, however, resolves any of the claims made by Synopsys
against Nassda and the trial judge or jury will reach their own
conclusions based upon the evidence presented at trial. We disagree
with the discovery referee's orders and we intend to continue to
defend ourselves vigorously. "Over 250 companies and organizations
world wide have adopted Nassda's new-generation nanometer
solutions," continued Dr. Wang. "The difference our customers see
in the performance and capabilities of our products is due to our
own innovative development. We will continue to focus on further
product innovation and customer support." Nassda will post copies
of the discovery referee's orders discussed in this press release
on the investor relations portion of its web site to the extent
permissible under court order. About Nassda Nassda Corporation is a
leading provider of full-chip circuit verification software for
complex nanometer semiconductors. Headquartered in Santa Clara,
California, the company develops and markets simulation and
analysis solutions for advanced ICs, especially for analog, mixed
signal, memory, system-on-chip and high performance digital
designs. Nassda's products enable first silicon success, and
improve product quality and production yield for its consumer,
communication, computer, and memory customers. The company has
sales and distribution offices throughout the world. For more
information about Nassda, please visit the company's website at
http://www.nassda.com/. Forward Looking Statements This press
release contains forward-looking statements regarding the outcome
of the litigation between Nassda and Synopsys that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
generally preceded by words that imply a future state, such as
"expects" or "anticipates," or that imply that a particular future
event or events will occur, such as "will," "remain," "may," or the
negative of these terms. Investors are cautioned that all
forward-looking statements in this release involve risks and
uncertainty, including without limitation, the outcome of pending
and future motions and other court proceedings, as well as the
results of any trial or appeal. These risks, uncertainties and
other factors may cause the outcome of any motion, proceeding or
case to differ materially from those expressed or implied by the
forward-looking statements. Forward-looking statements are only
predictions and the actual events or results may differ materially.
Nassda cannot provide any assurance that its future results will
meet expectations. In addition, historical information should not
be considered a predictor of future performance. Neither Nassda nor
any other person assumes responsibility for the accuracy and
completeness of these forward-looking statements. Nassda disclaims
any obligation to update information contained in any
forward-looking statement. For additional information and
considerations regarding the risks faced by Nassda, see its Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q, as filed
with the Securities and Exchange Commission. NOTE: Nassda and HSIM
are registered trademarks of Nassda Corporation. DATASOURCE: Nassda
Corporation CONTACT: Tammy Shu Hua Liu, Chief Financial Officer of
Nassda Corporation, +1-408-327-7710, or Web site:
http://www.nassda.com/
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