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Case Status:    DISMISSED    
On or around 06/13/2003 (Other)

Filing Date: April 10, 2003

According to the docket posted, on June 10, 2003, the plaintiffs filed a Notice of Voluntary Dismissal, and on June 13, 2003, the Court entered the Order signed by U.S. District Judge Martin Jenkins granting the Notice of Voluntary Dismissal.

The complaint charges Affymetrix with a violation of Section 10(b) of
the Exchange Act and Rule 10b-5 promulgated thereunder and certain of
its officers and directors with a violation of Section 20(a) of The
Exchange Act. More specifically, on January 29, 2003, the Company
issued a press release, announcing its financial results for the fourth
quarter 2002 and fiscal year 2002, wherein it advised that the Company
expected to achieve product revenue growth of 28% in 2003 and expected
that product revenue for the first quarter of 2003 would range between
$71-73 million.

However, these prospects lacked a reasonable basis as they failed to
disclose that the Company was experiencing declining demands for its
products and services, was taking numerous steps to hide the
deterioration in its business, and would no longer be able to conceal
the slowdown in its sales from investors. What is more shocking is
that the Company, not less than three months after reporting their
bright product revenue outlook, reported that its expectations for
first quarter growth were significantly lower, such that product
revenue growth would only be between $60-62 million.

News of the lower product revenue figures sent the Company's common
stock in a rapid decline. Additionally shocking is that about eleven
days prior to the Company's announced low first quarter figures,
GlaxoSmithKline PLC (who share a common director with Affymetrix)
engaged in a sale of 4,736,254 shares of Affymetrix common stock, which
resulted in a $124,557190.30 windfall for GlaxoSmithKline PLC.


Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States


Ticker Symbol: AFFX
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 03-CV-1541
JUDGE: Hon. Martin J. Jenkins
DATE FILED: 04/10/2003
CLASS PERIOD END: 04/03/2003
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
  2. Cauley Geller Bowman Coates & Rudman, LLP (New York)
  3. Law Offices of Charles J. Piven, P.A.
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
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