3dfx Files for Voluntary Bankruptcy Protection Under Chapter 11 of the Bankruptcy Code.Business Editors & High Tech Writers SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Oct. 16, 2002 3dfx Interactive, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TDFX TDFX Testis-Determining Factor, X-Chromosomal ) today announced that it has filed a petition with the United States Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. for the Northern District of California under Chapter 11 of the United States Bankruptcy Code requesting that the Court take jurisdiction over the voluntary Chapter 11 proceedings Chapter 11 Proceedings Provisions of the Bankruptcy Reform Act under which the debtor firm is reorganized by a court because the estimated value of the reorganized firm exceeds the expected proceeds from its liquidation. initiated by the Company. "At this juncture, we believe that the bankruptcy process provides the best means of enabling us to repay our creditors," said Richard A. Heddleson, President and Chief Executive Officer of the Company. Note on Forward-Looking Statements: Statements that are not purely historical facts, including statements about the Company's winding up, liquidation and dissolution, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," `seek,' "expect," "intend," "should," "could," "goal," "target," "designed," "on track," "comfortable with," "optimistic" and other similar expressions, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those contemplated by the forward-looking statements. Such factors include the risks and uncertainties associated with events and parties that are beyond the Company's control, as well as those referenced in our documents filed with, or furnished to, the Securities and Exchange Commission, including without limitation those identified under the caption "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Discontinued Operations-Risk Factors" in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the period ended January 31, 2002. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on forward-looking statements. |
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