We’re coming up on almost four years, full on, since the momentous events of 15 October 2008 when the entire top executive team at Cadence exited stage left.
At the time, of course, the world was paying a shade less attention to EDA, and a shade more attention to a global crisis unfolding minute-by-minute featuring household concepts such as bankruptcy, subprime mortgages, and derivatives, and household names such as Lehman Brothers, AIG, Merrill Lynch, Bank of America, Goldman Sachs, Morgan Stanley, Washington Mutual, JPMorgan, Wachovia, CitiGroup, and the FDIC, to name a few.
Meanwhile, the folks who held CDNS in mid-October 2008 were holding shares that had lost almost 80% of their value over the previous 12 months, plummeting from $20+/share to around $4/share in that time frame.
The world may have been consumed by news of the larger global meltdown in October 2008, but various CDNS shareholders were sufficiently focused on the disaster at Cadence to precipitate upwards of a dozen class-action suits against the company in protest.
