Informix charged with financial misrepresentation, insider trading

Yet another lawsuit alleging financial misrepresentation and insider trading has been filed by William Lerach against a prominent Silicon Valley high-tech company. This newest complaint alleges that during the period of April 16, 1996 to August 7, 1997, Informix (San Diego, CA, http://www.informix.com) violated federal securities laws by making misrepresentations about Informix's business and earnings growth, and the company's potential for sustained profitability. These charges stem from a drop in Informix's stock prices during the specified period from as high as $30-3/8 to as low as $7-1/8 per share. Lerach has filed at least 55 class-action lawsuits against Silicon Valley's top publicly traded high tech firms, including Adobe (San Jose, CA, http://www.adobe.com) in July and FileNet (Costa Mesa, CA, http://www.filenet.com) in February.