Shares of Raining Data Regain Some Lost Value

Shares of Raining Data Corp., an Irvine maker of Web-enabled software, recovered a bit Wednesday from a 29% drop in price after the company announced a shake-up of its top management Tuesday.

The stock gained $1.13 to close at $11.13 a share. On Tuesday, it lost $4 a share after the company installed an interim chief executive and a new president to replace Gilbert Figueroa, who engineered the formation of the company last month through the merger of PickAx Inc. and Omnis Technology Corp.

Figueroa quit “to pursue other business opportunities,” the company said, but will remain on Raining Data’s board.

The company named Chairman Bryce Burns as interim chief executive and Richard Lauer, the chief operating officer, as president.