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Manuel Asensio Report: Jul. 20, 1998 Avant!'s day of reckoning draws closer. |
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Manuel Asensio and Asensio & Company, Inc. ("Asensio") report that investors continue to buy Avant! Corp. (NASDAQ Symbol: AVNT) (Price: $20.0625) stock based on the premise that both the company and its management will successfully avoid civil and criminal prosecution for stealing one of the word's most unique pieces of software. Manuel Asensio and Asensio believe the evidence against Avant! is highly damaging. In fact, certain institutional holders have acknowledged their belief that Avant! is guilty but continue to buy and hold its stock hoping the wheels of justice will jam. Manuel Asensio and Asensio have stated that Avant! faces liabilities well beyond its ability to pay. Cadence Design Systems, Inc. (NYSE Symbol: CDN) has now disclosed its estimate of the damages. Both Cadence and the State of California are diligently pursuing Avant! and its criminally charged managers. Avant! has failed to separate the interests of its shareholders from these individuals (who are free only because they posted bail.) As a result, Avant! has failed to negotiate a settlement and has merely delayed the proceedings. Manuel Asensio and Asensio believe any settlement would wipeout Avant!'s equity. Manuel Asensio and Asensio further believe that both trials will be held and that the facts provide clear and convincing evidence of Avant!'s guilt. |
