-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OYdYEh9B5us7bsD9BPAws4v2F6k5epYzSjzftx5mdByEIW9Mq7whqZSzKTL33QCK FcRnnDF4o1iHZPP9h5wZiw== 0000950123-11-016684.txt : 20110223 0000950123-11-016684.hdr.sgml : 20110223 20110222205918 ACCESSION NUMBER: 0000950123-11-016684 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110222 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20110223 DATE AS OF CHANGE: 20110222 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CADENCE DESIGN SYSTEMS INC CENTRAL INDEX KEY: 0000813672 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 770148231 STATE OF INCORPORATION: DE FISCAL YEAR END: 1229 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10606 FILM NUMBER: 11630315 BUSINESS ADDRESS: STREET 1: 2655 SEELY ROAD BLDG 5 CITY: SAN JOSE STATE: CA ZIP: 95134 BUSINESS PHONE: 4089431234 MAIL ADDRESS: STREET 1: 555 RIVER OAKS PARKWAY CITY: SAN JOSE STATE: CA ZIP: 95134 FORMER COMPANY: FORMER CONFORMED NAME: ECAD INC /DE/ DATE OF NAME CHANGE: 19880609 8-K 1 f58413e8vk.htm FORM 8-K e8vk
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported): February 22, 2011
CADENCE DESIGN SYSTEMS, INC.
(Exact Name of Registrant as Specified in its Charter)
         
Delaware
(State or Other Jurisdiction
of Incorporation) 		  000-15867
(Commission File Number) 		  77-0148231
(I.R.S. Employer
Identification No.)
     
2655 Seely Avenue, Building 5
San Jose, California 		  95134
(Address of Principal Executive Offices)   (Zip Code)
(408) 943-1234
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

Item 7.01.   Regulation FD Disclosure.
In February 2011, Cadence Design Systems, Inc. (“Cadence”) reached an agreement to settle the federal securities class action in the cases captioned “In re Cadence Design Systems, Inc. Securities Litigation” and the individual defendants reached an agreement to settle the related state and federal derivative cases, both captioned “In re Cadence Design Systems, Inc. Derivative Litigation.” The cases are described in more detail in Cadence’s Quarterly Report on Form 10-Q for the third quarter of fiscal 2010. Though the settlement was reached subsequent to fiscal 2010 year-end, Cadence recorded an expense of approximately $15.8 million in respect of the settlements for the fourth quarter of 2010, which is the aggregate settlement cost of approximately $40 million, net of approximately $24.2 million that Cadence expects will be paid by its insurance carriers. Cadence agreed to these settlements without admitting any wrongdoing on the part of the company or any of its current or former directors and executive officers and the settlements are subject to completion of final settlement documentation by the parties and court approval. This settlement was reached after Cadence’s earnings release for fiscal 2010 and the fourth quarter of fiscal 2010 and investors should review Cadence’s Form 10-K for fiscal 2010 when it is filed for additional detail with respect to the impact of this settlement-related expense on Cadence’s GAAP financial performance for fiscal 2010.

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SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated:   February 22, 2011
         
  CADENCE DESIGN SYSTEMS, INC.
 		  
  By:   /s/ James J. Cowie    
    James J. Cowie   
    Sr. Vice President, General Counsel and Secretary   
 

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