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Technology Stocks : Avant (AVNT)
AVNT 31.51-1.2%Oct 30 3:59 PM EDT
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To: Bear Down who wrote (3393)1/5/1999 1:57:00 PM
From: ProZapper  Read Replies (2) of 3441
 
I'm sure you have all seen the news:

FREMONT, Calif., Jan. 4 /PRNewswire/ -- The Avant! Corporation (Nasdaq: AVNT) was notified today that U.S. District Judge Ronald Whyte, in an order filed on December 29, 1998, has ordered Avant! and Cadence Design Systems to immediately schedule a settlement conference or mediation concerning the ongoing civil litigation between the two companies. The order specifies that the settlement conference be supervised by a judge or other individual mutually acceptable to the parties. The order states: "The court believes that such a session could be productive since the parties have now received the court's preliminary injunction rulings and the parties would benefit from resolving their dispute without further delay and expense."

The stock has rocketed on this paid press release. I called Avant! to see what was up. the release seemed a bit ambiguous. I talked with Clayton Parker. Avant! asked the Judge for this court order. They have wanted to settle out of court for a long time. Cadence has been unwilling to settle, so Avant! asked the Judge to intervene. Cadence is required to sit down and talk with Avant, but they are not bound to reach an out of court settlement, only to talk and see if a trial can be avoided. The only one to benefit from an out of court settlement would be Avant. The legal costs verses the benefits of a court win are nothing for Cadence. The two parties will meet with the Judge on 1/15/99. Mr. Parker said that these talks, or even a settlement have NO effect on the eight criminal indictments against Avant and it's officers. Even Cadence cannot stop the criminal trials. Mr. Parker said that Avant! and it's officers will be arraingned on 1/11/99!
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