Prism Solutions Faces Class Action Suit

Prism Solutions (Sunnyvale, CA), a provider of software, methodology, training and consulting for data warehouses, is the target of a class action lawsuit filed on behalf of its stockholders. The suit, filed in part by Milberg, Weiss, Bershad Hynes and Lerach LLP, charges that Prism "made materially false and misleading statements" about Prism's business and prospects following the company's IPO in March 1996. Prism is the latest target of California attorney William Lerach, who has been behind at least 57 class action suits against prominent publicly-traded Silicon Valley high tech firms in the last year, including FileNet

(Costa Mesa, CA), Adobe (San Jose), and most recently Oracle (Redwood Shores, CA).