3dfx Settles

3dfx has agreed to the settlement of a numbers of shareholder lawsuits brought against STB and some of its directors. The suits against STB Systems emerged as part of 3dfx's acquisition of the company last May. The settle does not include any admission of liability by STB, but does call for the establishment of $4.7 million settlement fund to be paid by insurance. "Although we were prepared to defend the litigation vigorously, we concluded that it was in the best interests of the Company and its shareholders to resolve the litigation," said 3dfx General Counsel Brian Keyes.