Affymetrix Corporation develops technology for acquiring, analyzing, and managing complex genetic information for use in the biomedical field.

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. 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.

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.