I hadn't heard, but can't say I'm surprised. You never read about them in magazines. I don't think I've ever even tested a Prescriptive product let alone bought one. Estee Lauder didn't really do much to get the word out on their items.
I read about it a while back. I am not surprised. They didn't really have much of a BRAND, their main claim to fame was the personalized colors for concealers and foundation, alot of which got bad reviews from what Ive read. I have a bronzer and a brush from them, they both worked just fine. I think it was more an advertising/imageing/marketing issue more than anything.