Class Action Securities Litigation Against Symyx Technologies is Dismissed.Business Editors SANTA CLARA, Calif.--(BUSINESS WIRE)--March 13, 2002 Symyx Technologies, Inc. (Nasdaq:SMMX) announced today that a shareholder class-action securities lawsuit against the company's officers has been dismissed. Yesterday, the plaintiffs filed a Notice in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the Southern District of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of voluntarily dismissing without prejudice Without any loss or waiver of rights or privileges. When a lawsuit is dismissed, the court may enter a judgment against the plaintiff with or without prejudice. When a lawsuit is dismissed without prejudice the claims against the company's officers in the shareholder class-action lawsuit filed in December 2001. The class-action lawsuit asserted violations of the federal securities laws relating to how the underwriters of the company's initial public offering allegedly allocated the company's IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. shares to the underwriters' customers. "We have always maintained that these charges were unfounded and we are pleased that the plaintiffs chose to dismiss this unwarranted lawsuit," said Steven Goldby, chairman and chief executive officer of Symyx Technologies. The Palo Alto law firm of Wilson, Sonsini, Goodrich & Rosati represented Symyx's(R) officers in the lawsuit. Symyx develops and applies high-speed combinatorial technologies to the discovery of materials for life science, chemical and electronics applications. Symyx provides research services to its partners through its Industry Collaborations business, seeks to license discovered materials through its Proprietary Materials programs, and offers selective access to its proprietary technologies, including instruments, software and intellectual property, through its Discovery Tools business. Approximately 25 leading life sciences, chemical and electronic companies are among Symyx's increasing base of worldwide partners and customers. Symyx currently has over 45 issued patents and over 350 patent applications worldwide. Information about Symyx, including reports and other information filed by the Company with the Securities and Exchange Commission, is available on the worldwide web at www.symyx.com or by phoning 408/773-4095. "Symyx," the logo, "Discovery Tools," "Library Studio," "Endeavor," and "PPR PPR peste des petitis ruminants. " are registered trademarks and servicemarks of Symyx Technologies, Inc. Other trademarks of Symyx Technologies, Inc. include "Celero" and "Renaissance." Certain statements in this press release are forward-looking and involve risks and uncertainties. These may be identified by the use of forward-looking words or phrases such as "believe," "expect," "intend," "anticipate," "should," "planned," "forecast," "estimated," and "potential," among others. These forward-looking statements are based on Symyx Technologies' current expectations. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for such forward-looking statements. In order to comply with the terms of the safe harbor, Symyx Technologies notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. The risks and uncertainties that may affect the operations, performance, development, and results of Symyx Technologies businesses include but are not limited to (1) market acceptance of Symyx's products and services; (2) uncertainties relating to the pace, quality or number of discoveries of new materials; (3) the dependence on collaborators to successfully commercialize products; (4) uncertainties of patent protection and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; (5) future growth strategy; (6) general economic conditions in the United States and in major European and Asian markets; (7) natural disasters, power failures and other disasters; (8) and other factors that might be described from time to time in Symyx Technologies' filings with the Securities and Exchange Commission, including our 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. annual report for fiscal year 2000 and Form 10-Q Form 10-Q See 10-Q. reports for fiscal year 2001. |
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