One of the biggest and most egregious stock drop cases to hit Silicon Valley has settled, lawyers announced Wednesday, with Informix Corp. and others agreeing to provide cash and stock worth $142 million to aggrieved shareholders.

The Menlo Park-based database software maker agreed to pay $17 million in cash while issuing $91 million in new stock to the plaintiffs who sued the database manufacturer in 1997. Co-defendants Ernst & Young, the company’s former accountants, agreed to pay $34 million in cash to settle the massive federal class action.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]