Wolf Haldenstein Files Class Action Lawsuit Against Autodesk Inc

28 April 2000
Wolf Haldenstein Files Class Action Lawsuit Against Autodesk Inc., Its Executives and Its Investment Banker Alleging Securities Fraud
    NEW YORK, April 28 Wolf Haldenstein Adler Freeman & Herz
LLP announces that it filed a securities class action lawsuit in the United
States District Court for the Northern District of California on behalf of
investors who bought Autodesk Inc. (Nasdaq: ADSK) ("Autodesk" or the
"Company") stock between September 14, 1998 and May 4, 1999 (the "Class
Period").
    The lawsuit alleges that Autodesk, certain executives of the Company and
its investment banker violated the securities laws and regulations of the
United States.  The Company creates and sells PC design software and
multimedia tools for use in the architectural design, civil engineering,
surveying, mechanical design, mapping, film and video production, video game
development and Web content industries.  The Complaint alleges that to
artificially inflate the price of Autodesk stock, Autodesk, certain of its
executives and their investment banker made very positive but false statements
about: strong continuing demand for Autodesk's existing AutoCAD R14 product
line; strong demand for all of its products in Europe; Autodesk's successful
diversification of its business due to the strong sales of its "vertical"
products resulting in lessened dependence on its AutoCAD product line and thus
the elimination of the AutoCAD "boom/bust" cycle; the beneficial impact of
Autodesk VIP upgrade program; the lack of any negative impact on Autodesk's
business due to Y2K issues; the successful development and testing and
accelerated commercial release of its new R15/AutoCAD 2000 product; and the
limited dilutive impact of Autodesk's acquisition of Discreet Logic, all of
which would result in the Company achieving F00 (to end Jan. 31, 2000)
revenues in excess of $1 billion, earnings per share ("EPS") of $2.45-$2.55
and 20%-25% yearly EPS growth during F99-F01.  As a result of these positive,
yet false statements, the price of Autodesk stock was artificially inflated to
a Class Period high of $49-7/16 in January 1999.  This enabled the Company to
both successfully complete the Discreet Logic acquisition in March 1999 as
well as to sell three million new Autodesk shares to the public at $41 per
share for over $120 million.
    On May 4, 2000, defendants stunned the investment community by announcing
that Autodesk F00 results were, in fact, going to be much worse than earlier
forecast based on poor sales of R15/AutoCAD 2000 and weak sales in Europe.
Upon the release of this announcement the Company's stock price sank by almost
25% in one day to a close of $22-1/4 and later to as low as $19-3/4.
    Plaintiff seeks to recover damages on behalf of all class members and is
represented by the law firm of Wolf Haldenstein Adler Freeman & Herz LLP
(http://www.whafh.com). The Wolf Haldenstein firm has a full service
commercial practice consisting of approximately 50 attorneys based in New York
City, San Diego, New Jersey and Chicago.  The firm's litigation department has
been recognized by courts throughout the country as highly experienced and
skilled in complex litigation, particularly with respect to federal securities
laws, class actions and shareholder litigation.  The firm's qualifications
have repeatedly received very favorable judicial recognition.  The firm has
achieved recoveries of $2 billion on behalf of investors and shareholders.
    If you purchased Autodesk stock during the Class Period, you have until
May 22, 2000 to participate in the case and ask the Court to appoint you as
one of the lead plaintiffs for the Class.  In order to serve as lead
plaintiff, you must meet certain legal requirements. If you wish to discuss
this action or have any questions, please contact Wolf Haldenstein Adler
Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by
telephone at 800-575-0735 (Michael Miske, George Peters, Fred Taylor Isquith,
Esq., Shane T. Rowley, Esq., or Gregory M. Nespole, Esq.), via e-mail at
classmember@whafh.com or visit its website at http://www.whafh.com
    All e-mail correspondence should make reference to Autodesk.