Business Editors
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--June 19,
2003--Actuate Corporation (Nasdaq:ACTU), the world leader in scalable
Business Intelligence Applications, today announced that the Fairfax
County Circuit Court in Fairfax, Virginia, ruled in favor of Actuate
on all counts in the case of MicroStrategy, Incorporated v. Li, Xue
and Actuate Corporation.
"This is a great victory for Actuate, its employees, customers and
shareholders," said Pete Cittadini, CEO and president of Actuate
Corporation. "We have stated from the start that this case had no
merit. This judgment reflects our continued commitment to operate with
integrity in every area of our business."
The case involved claims by MicroStrategy that Actuate and two
former employees had misappropriated its trade secrets and
confidential information, tortiously interfered with MicroStrategy's
contract, and committed civil conspiracy and fraud. MicroStrategy
sought permanent injunctive relief precluding Actuate from further
sales of Actuate 6 and millions of dollars in damages. Today, Judge M.
Langhorne Keith of the Fairfax County Circuit Court in Fairfax,
Virginia issued a Letter Opinion following a 5-week bench trial, which
finds in favor of Actuate and Messrs. Li and Xue on all counts of the
Complaint.
This outcome means Actuate can continue to develop and sell its
industry leading Information Application Platform.
The Court has placed the opinion under seal, and thus details of
the Court's ruling will be released at such time as they become
available for dissemination.
Actuate Corporation was represented in these proceedings by the
Washington, D.C office of Sonnenschein Nath & Rosenthal.
About Actuate Corporation
Actuate Corporation is the world leader in scalable Business
Intelligence applications. Actuate's Information Application Platform
is the foundation on which Global 9000 organizations (companies with
annual revenues greater than $1 billion) and packaged application
software vendors create reporting and analytics applications that
scale to empower 100 percent of their user community inside and
outside the firewall. These Information Applications include Business
Performance Management (BPM) dashboards, Information Portals as well
as business analytic, enterprise reporting and spreadsheet reporting
applications. Information Applications built with Actuate enable
companies to increase their business agility, improve customer and
partner relationships, adhere to corporate governance policies, and
increase revenues while leveraging existing technology assets. When
tested against other business intelligence products, Actuate's
Information Application Platform has been proven to offer
industry-leading scalability, the best performance, lowest Total Cost
of Ownership. Actuate has over 2,000 direct customers and 300 OEM
partners in a range of industries including financial services,
pharmaceuticals, insurance, and distribution services, as well as the
government sector.
Founded in 1993, Actuate has headquarters in South San Francisco,
Calif., and has offices worldwide. For more information on Actuate,
visit the company's Web site at http://www.actuate.com.
The statements contained in this release that are not purely
historical are forward looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, including
statements regarding Actuate's expectations, beliefs, hopes,
intentions or strategies regarding the future. All forward-looking
statements in this release are based upon information available to
Actuate as of the date hereof, and Actuate assumes no obligation to
update any such forward-looking statements. Actual results could
differ materially from Actuate's current expectations.
Actuate is a registered trademark of Actuate Corporation. Other
company names and trademarks are trademarks of their respective
companies.
--30--LR/sf*
CONTACT: Actuate Corporation
Keren Ackerman, 650/837-4545 (Investor Relations)
kackerman@actuate.com
or
Reichert Communications
Barbara Reichert, 650/212-1112 (Media Relations)
barbara@reichertcom.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: SOFTWARE COMPUTERS/ELECTRONICS
SOURCE: Actuate Corporation
