Courts Approve Final Settlements of Informix Private Securities Litigation.MENLO PARK Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif.--(BUSINESS WIRE)--Nov. 16, 1999-- Informix(R) Corporation (Nasdaq:IFMX IFMX Informix Corporation ), today announced final court approvals of the settlements of the private securities litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. in which the Company and others were defendants. The litigation arose from the events that led to the restatement of the Company's financial statements that was announced publicly in November, 1997. On October 29, 1999 the United States District Court for the Northern District of California The United States District Court for the Northern District of California is the Federal district court whose jurisdiction comprises following counties: Alameda, Contra Costa, Del Norte, Humboldt, Lake, Marin, Mendocino, Monterey, Napa, San Benito, San Francisco, San Mateo, Santa gave final approval to the settlement of the federal securities class action litigation, which also covers the related State court securities class action litigation. On November 12, 1999 the Superior Court of California, San Mateo County, gave final approval to the settlement of the related stockholder derivative litigation. The final court approvals resolve all of the major securities litigation that was pending. The Company hopes to resolve the very few remaining smaller securities cases not covered not covered Health care adjective Referring to a procedure, test or other health service to which a policy holder or insurance beneficiary is not entitled under the terms of the policy or payment system–eg, Medicare. Cf Covered. by the settlement as soon as possible. About Informix Informix Corporation, based in Menlo Park, California Menlo Park is a city in San Mateo County, California in the United States of America. It is located at latitude 37°29' North, longitude 122°9' East. Menlo Park had 30,785 inhabitants as of the 2000 U.S. Census. , provides innovative database solutions that assist the world's major corporations to attain competitive advantage. Informix is widely recognized as the technology leader for corporate computing environments ranging from small workgroups to very large parallel processing applications. Informix's database server, application development tools, superior customer service, and strong partnerships enable the company to be at the forefront of major information technology solution areas including data warehousing, high performance OLTP (OnLine Transaction Processing) See transaction processing and OLCP. OLTP - On-Line Transaction Processing , and Web/e-commerce. For more information, contact the sales office nearest you or visit our Web site at www.informix.com. Note to Editors: Informix news releases are available at no charge through Business Wire's NewsOnDemand fax service. To immediately receive an index of available releases, call 1-800-356-0851. Informix(R) is a trademark of Informix Corporation or its affiliates and is registered, in the U.S. and some other jurisdiction. |
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