Informix Drops Suit Against Oracle

Informix Corp. said it dropped its trade-secret lawsuit against rival software company Oracle Corp. In a news release, the companies said no money changed hands and that neither would comment further about the case. Menlo Park-based Informix sued Oracle in January for hiring away 13 of its top programmers, who were working on next-generation software. Informix Chairman Phil White alleged that Oracle did so to steal trade secrets to catch up with its technology. “Through [legal] discovery, Informix has learned that Oracle and the engineers have not misappropriated or disclosed any confidential Informix information,” Informix said in the release. “Informix regrets any statements or allegations that the engineers misappropriated any trade secrets, or disclosed them to Oracle.” Both Informix and Redwood Shores-based Oracle write database software, the computer programs that store huge amounts of information in corporate computer networks. Informix’s stock edged down 12.5 cents to close at $9.50; Oracle was unchanged at $49. Both trade on Nasdaq.