Nassda (NASDAQ:NSDA)
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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/