Informix in the news!

Well, not really. If you recall Christine's last Informix in the news, there were several major articles about the restatement of earnings, yet again, and a news.com article about the ongoing SEC investigation. First a joke: Q: What database company has more lawyers that Oracle? A: Informix Software. What's funny, is that its true. On that note, I decided to check out the website at Stanford.edu which has the complaints online. Since I haven't been there, I noticed that one of the complaints has been updated. The date was Feb 5, 1998. Unlike the earlier complaint, this one goes from 1994-1996. Here's the interesting part: 8. Throughout the Class Period the Individual Defendants sold large proportions of their Informix stock on numerous occasions following the Company's releases of its reported financial results. The Individual Defendants sold over 2 million shares of their Informix stock at prices as high as $31.69 per share, in total reaping over $45 million: Shares Aggregate Defendant Sold Proceeds White 356,000 $8,149,015 Graham 315,000 $7,007,010 Stonebraker 508,977 $8,774,119 Hill 124,969 $2,805,211 Stanley 104,500 $2,512,100 Alvarez 50,600 $1,089,120 Saranga 185,000 $4,807,225 Sommer 70,000 $1,773,175 Coulter 162,500 $3,887,000 Blasing 3,569 $ 92,165 Winder 80,000 $2,062,650 Dorf 100,000 $2,413,070 TOTALS: 2,061,115 $45,371,860 Of the defendants, here's the list of those currently on Informix's payroll: Michael Stonebraker Steven Hill Myron Saranga Karen Blasing Please note that this information is published under the fair use act and that this is public information. Litigation has not started and this information is not to be interpreted that these *officers* are guilty of any crime(s) or civil judgement. Also, not all of the individuals named here are listed in all of the complaints against Informix. Now this is only the latest of several pending litigation against Informix. In another suit, Saranga sold 65,000 of his shares with in a 7/96 to 8/96 for 1.4 Million. (A smaller timeframe which falls directly in the restatement time period.) Oh, and there's another suit filed by Teachers Retirement System of LA. And the State Board of Administration of Florida. This is again different from the suit against Informix brought by Illustra's former CEO or was that COO. No wonder why the stock is in the dumper. What I find interesting is that Informix still employs those executives which are still under SEC investigation and are co-defendants of the suit. Now some of you are wondering why I took the time to revisit this site? Its because of the joke I mentioned earlier. Plus, I remember that there was a motion to combine the suits in to a single class action suit that was supposed to be ruled on sometime this month. (I could be mistaken about the time frame.) Also, there seems to be a rash of companies having to restate their earnings. Oh well, such is life. If your purchased Informix stock during this time period, you too can join this suit. We now return you back to the mundane questions and answers normally found in this group. FTITCTAJ! -Mikey "1.43 Miles due east from the house that Michael built!" -- #include <std_disclaimer.h> /* Mike Segel (MS385) */ #include <No_Spam.h> #ifdef OFFENDED_BY_CONTENT The author takes no responsibility for this post. Any resembalence to a coherent rational thought is purely coincidence. -The Management. #endif ***************************** * Attention * -*- Due to AGIS's Refusal to Act Responsibly -*- Due to ACSI's Refusal to Act Responsibly We are blocking all of their domains at the packet level. This block will exist until they modify their policies to conform to existing RFCs and net community standards. We encourage all ISPs and domain holders to do the same. *****************************