NSDA Nassda Corp (MM)

Schatz & Nobel, P.C. Announces Class Action Lawsuit Against Nassda Corporation HARTFORD, Conn., July 30 /PRNewswire/ -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of California on behalf of all persons who purchased the publicly traded securities of Nassda Corporation (NASDAQ:NSDA) ("Nassda") between December 13, 2001 and June 11, 2004, inclusive (the "Class Period"), including those who purchased their shares pursuant to its initial public offering. The Complaint alleges that Nassda and certain of its officers and directors issued materially false statements concerning Nassda's business condition. Specifically, defendants failed to disclose that Nassda, whose founders are all former employees of Synopsys Corporation ("Synopsys"), engaged in misappropriation of trade secrets and infringement of a patent entitled "Hierarchical Power Network Simulation and Analysis Tool for Reliability Testing of Deep Submicron Designs" (the "'053 patent"). Synopsys has filed two suits against Nassda alleging that Nassda has induced or contributed to the infringement of the '053 patent by making infringing products and creating source code for infringing products and then selling, distributing, advertising and marketing those infringing products to others. On June 14, 2004, Nassda revealed that the California state court had issued orders on June 11, against defendants in the Synopsys litigation which limited Nassda's defenses and established as fact that the first 60,000 lines of source code of Nassda's Hierarchial Storage and Isomorphic Matching ("HSIM") software product and all ideas and concepts reflected therein were derived from Synopsys' code or other Synopsys materials while the defendants were employed by Synopsys. The court also ruled that the defendants acted in concert to intentionally alter, destroy, lose or misplace items requested in discovery and conceal evidence. On this news, Nassda plummeted to below $4.00 per share. If you are a member of the class, you may, no later than September 27, 2004 request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s). For more information about the case, its claims, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at . To view a copy of the lawsuit initiating the class action, or for more information about class action cases and Schatz & Nobel, please visit our website: http://www.snlaw.net/. CONTACT: Nancy A. Kulesa Tel.: (800) 797-5499 Website: http://www.snlaw.net/ e-mail: DATASOURCE: Schatz & Nobel, P.C. CONTACT: Nancy A. Kulesa of Schatz & Nobel, P.C., +1-800-797-5499, Web site: http://www.snlaw.net/

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