(S) AVNT - News -
Supervised Mediation in Avant!-Cadence Case to
Begin on February 15, 1999; Trial Date Set for October 12, 1999
"FREMONT, Calif., Jan. 19 /PRNewswire/ -- The Avant! Corporation (Nasdaq: AVNT - news) was notified today by the
United States District Court in San Jose that a trial on selected portions of the Avant!-Cadence civil dispute has been
scheduled to begin on October 12, 1999. Avant! and Cadence also informed the court today that they had agreed upon a
retired judge to supervise mediation talks between the two parties. The mediation will begin on February 15, 1999.
"On December 29, 1998, the court ordered the parties to immediately schedule a settlement conference or mediation to attempt
to informally resolve this action. Should a trial be necessary, the court scheduled the trial to begin on October 12, 1999. The
trial is expected to last approximately six weeks. The trial will not be on all issues contained in the civil suit, but only on those
issues that the court ruled are not covered by a previously imposed stay.
"The court also extended the stay it had previously put upon the related shareholder lawsuits stemming from the allegations in the
Avant! -- Cadence dispute and directed that mediation or settlement conference begin in those cases as well. "
I'm not too sure how the stock will respond to this. The civil case is a long way off, which could worry some, but I think more people are excited about the mediation (with the slim possibility of a settlement). Put my guess down as a point and a half increase. *g* JMHO, of course...
llater,
Tony B |
