Avant! Countersues Cadence for Federal Antitrust Violations, Securities Fraud, and Racketeering.SUNNYVALE, Calif.--(BUSINESS WIRE)--Jan. 16, 1996--Avant! Corp., the emerging leader in integrated circuit design automation (ICDA ICDA abbr. International Classification of Diseases, Adapted for Use in the United States ) technology, today announced it has filed a counterclaim against Cadence Design Systems (company) Cadence Design Systems - A company that sells electronic design automation software and services. http://cadence.com/. See also Verilog. , Inc. and its chief executive officer, Joseph Costello, for federal antitrust violations, securities fraud, racketeering Traditionally, obtaining or extorting money illegally or carrying on illegal business activities, usually by Organized Crime . A pattern of illegal activity carried out as part of an enterprise that is owned or controlled by those who are engaged in the illegal activity. , and other illegal acts. The counterclaim was filed to redress these wrongs and restore legitimate competition to the ICDA market. Avant! filed the complaint, No. CV 95-20828 RMW RMW Read-Modify-Write RMW Regulated Medical Waste RMW RM Williams (Holding Limited) RMW Radioactive Mixed Waste(s) RMW Robert Mondavi Winery RMW Rock My World (PVT), today in the San Jose office of the U.S. District Court, Northern District of California. Over the last three years, Avant!'s more advanced, easier-to-use software products for the layout and verification of complex, high-performance ICs have eclipsed the outdated technology marketed by Cadence. Avant!'s counterclaim alleges that Costello, recognizing that Cadence could not compete with Avant!'s superior technology in the marketplace, devised an illicit scheme to drive Avant! out of business and to protect Cadence's dwindling market share. Avant!'s counterclaim seeks punitive and compensatory damages A sum of money awarded in a civil action by a court to indemnify a person for the particular loss, detriment, or injury suffered as a result of the unlawful conduct of another. and injunctive relief injunctive relief n. a court-ordered act or prohibition against an act or condition which has been requested, and sometimes granted, in a petition to the court for an injunction. to stop Cadence's unlawful trade practices and anti-competitive activity. Avant! Corporation (Nasdaq: AVNT) develops, markets, and supports integrated circuit design automation (ICDA) software for deep submicron ICs, microprocessors, microcontrollers, application-specific standard products (ASSPs) and complex application-specific integrated circuits (ASICs). Company headquarters are located in Sunnyvale, telephone (408) 738-8881. World Wide Web site: http://www.avanticorp.com. CONTACT: Avant! Corp. Lois DuBois, 408/738-8881 tel., 408/738-0244 fax, 408/523-8857 direct or Miller/Shandwick Marla Kertzman, 415/962-9550 tel., 415/962-0519 fax |
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