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SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No. )
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COMMISSION ONLY (AS PERMITTED BY
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[ ] Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12
QUICKTURN DESIGN SYSTEMS, INC.
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CONTACTS:
QUICKTURN DESIGN SYSTEMS, INC. ABERNATHY MACGREGOR FRANK
Ray Ostby Pauline Yoshihashi
(408) 914-6000 (213) 630-6550
Matt Sherman
(212) 371-5999
FOR IMMEDIATE RELEASE
QUICKTURN DESIGN SYSTEMS SETS SPECIAL STOCKHOLDERS MEETING
SAN JOSE, CALIF. -- OCTOBER 1, 1998 -- Quickturn Design Systems, Inc. (Nasdaq:
QKTN) announced today that Quickturn's Board of Directors has set record and
meeting dates for a special stockholders meeting in accordance with the
Company's Bylaws. The record date is set for Tuesday, November 10, 1998 and
the meeting date is set for Friday, January 8, 1999. This meeting will only
occur if the United States District Court approves the propriety of
solicitations by Mentor Graphics Corporation (Nasdaq: MENT). The agent
designations solicited by Mentor requesting a special stockholders meeting
were recently determined valid by Quickturn's Board of Directors based upon a
report by an independent inspector of election, CT Corporation System.
As previously announced, Quickturn has filed counterclaims against Mentor
and its wholly owned subsidiary, MGZ Corporation, in the United States
District Court for the District of Delaware. Quickturn alleges that Mentor's
solicitation of agent designations and Schedule 14D-1 filed with the
Securities and Exchange Commission are false and misleading. In addition,
Quickturn alleges, among other things, that Mentor fails to disclose in these
filings the substantial value of Quickturn's patent portfolio and the full
impact on Mentor of the adverse rulings in its various patent litigations with
Quickturn. Quickturn is seeking, among other things, injunctive relief to
prevent Mentor from the continued execution of its solicitations and to
protect Quickturn and its stockholders from Mentor's attempt to acquire
Quickturn in a manner that violates federal securities laws.
Quickturn continues to urge its stockholders not to tender their shares to
Mentor's offer, which Quickturn's Board of Directors has rejected as
inadequate. The Board believes that Quickturn will generate substantial
returns for its stockholders over the next two years and thereafter.
Quickturn Design Systems, Inc. is the leading provider of verification
products and time-to-market engineering (TtMETM) services for the design of
complex ICs and electronic systems. The company's products are used worldwide
by developers of high-performance computing, multimedia, graphics and
communications systems. Quickturn is headquartered at 55 W. Trimble Road, San
Jose, CA 95131-1013; Telephone: 408/914-6000. For more information, visit the
Quickturn Web site at www.quickturn.com or send e-mail to [email protected].
