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Short Take: Informix faces another shareholder suit

A class-action complaint has been filed in U.S. District Court charging Informix officers, directors and its accountants Ernst and Young with reporting false financial results which resulted in the artificial inflation of Informix stock. Plaintiffs allege the defendents were able to sell 1,008,635 shares of Informix stock before the truth about the company's troubled operations diminished the share price.

A class-action complaint has been filed in U.S. District Court charging Informix officers, directors and its accountants Ernst and Young with reporting false financial results which resulted in the artificial inflation of Informix stock. Plaintiffs allege the defendents were able to sell 1,008,635 shares of Informix stock before the truth about the company's troubled operations diminished the share price.