Informix drops Oracle lawsuit

Informix Software (IFMX) has dropped its lawsuit against Oracle (ORCL) and 13 engineers who resigned from Informix in January to join the database rival.

Informix said it has learned that Oracle and the engineers have not misappropriated or disclosed any confidential Informix information and that Informix's trade secrets are adequately protected.

Informix said it regrets any statements or allegations that the engineers misappropriated any trade secrets or disclosed them to Oracle.

On May 28, in opening statements of what was expected to be a two-week hearing, Informix attorneys charged that Oracle had improperly hired away the engineers and that the engineers took important trade secrets about a forthcoming Informix database product with them.