On August 22, 1997, stockholders filed a class-action lawsuit in the California Superior Court in San Francisco, "accusing Macromedia and five executives-including chairman, CEO, and former president, John Colligan-of misleading stockholders on the company's product success and financial health and of engaging in insider trading during the class period of Apto January 9, 1997". As Flash matured, Macromedia's focus shifted from marketing it as a graphics and media tool to promoting it as a Web application platform, adding scripting and data access capabilities to the player while attempting to retain its small footprint. As of 2005, more computers worldwide had the Flash Player installed than any other Web media format, including Java, QuickTime, RealNetworksand Windows Media Player. Macromedia renamed Splash to Macromedia Flash, and following the lead of Netscape, distributed the Flash Player as a free browser plugin in order to quickly gain market share. Because of the small size of the FutureSplash viewer application, it was particularly suited for download over the Web, where most users, at the time, had low-bandwidth connections. First, Macromedia acquired FutureWave Software, makers of FutureSplash Animator, an animation tool which FutureWave Software had originally developed for pen-based computing devices. To jumpstart its web strategy further, Macromedia made two acquisitions in 1996.
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