Oracle Investor Sues Over $200M FCA Settlement

Law360, New York (March 22, 2012, 5:58 PM EDT) -- An Oracle Corp. shareholder filed a derivative lawsuit against the company's billionaire CEO Larry Ellison and other directors in Delaware Chancery Court on Thursday for allegedly failing to prevent federal contracting violations, leading to extensive False Claims Act litigation and a $200 million settlement.

Shareholder Jordan Weinrib says Oracle's directors breached their fiduciary duties through “gross mismanagement” in failing to make sure the federal government was given the same price discounts as other customers, as contracts required; that certifications made to federal officials were accurate; and...
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