To: +AlienTech (1983 )
From: +Andy Chen
May 7 1997 9:58AM EST
Reply #1985 of 2058
SAN DIEGO--(BUSINESS WIRE)--May 6, 1997--A class action has
been commenced in the United States District Court for the Northern
District of California on behalf of purchasers of Informix
Corporation ("Informix") common stock during the period April 16,
1996 to March 31, 1997.
The complaint charges Informix and certain of its officers and
directors with violations of the federal securities laws by making
misrepresentations about Informix's business, earnings growth and its
ability to continue to achieve profitable growth. The complaint also
charges that Informix reported false financial results during the
Class Period by improperly and artificially inflating its reported
revenues. By issuing these allegedly false and misleading
statements, defendants artificially inflated Informix's stock price
from a closing price of $19-3/8 on April 15, 1996 to a Class Period
high of $30-3/8 in September 1996, allowing defendants to sell
960,000 shares of their Informix stock at as high as $26-1/2 per
share, for $22.2 million, before the true facts about Informix's
troubled operations, diminished profitability, false financial
statements and failed new product development efforts were revealed
and Informix's stock collapsed to as low as $7-1/8 per share.
Plaintiffs seek to recover damages on behalf of all purchasers of
Informix common stock during the Class Period (the "Class"). They
are represented by several law firms, including Milberg Weiss
Bershad Hynes & Lerach LLP, who have expertise in prosecuting
investor class actions and extensive experience in actions involving
financial fraud.
Milberg Weiss has been actively engaged in commercial litigation,
emphasizing securities and antitrust class actions, for more than 20
years. The firm has offices in New York, San Diego, San Francisco
and Los Angeles and is active in major litigation pending in federal
and state courts throughout the United States. The firm's reputation
for excellence has been recognized on repeated occasions by courts
which have appointed the firm to major positions in complex
multi-district or consolidated litigations. Milberg Weiss has taken
a lead role in numerous important actions on behalf of defrauded
investors, and has been responsible for a number of outstanding
recoveries which, in the aggregate, total approximately $2 billion.
For additional information about Milberg Weiss, see the firm's
website at milberg.com .
If you are a member of the Class described above, you may, no
later than 60 days from today, move the Court to serve as lead
plaintiff of the Class, if you so choose. In order to serve as lead
plaintiff, however, you must meet certain legal requirements. If you
wish to discuss this action or have any questions concerning this
notice or your rights or interests, please contact plaintiffs'
counsel, William Lerach or Blake Harper of Milberg Weiss at
800/348-6192.
--30--nb/sf* jsj/sf lw/sf jgs/sf
CONTACT: Milberg Weiss Bershad Hynes & Lerach LLP
William Lerach or Blake Harper, 800/348-6192
KEYWORD: CALIFORNIA NEW YORK
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or
800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
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