Judge Sinks Investor Suit Over $1B Oracle-ATG Deal

Law360, Wilmington (April 27, 2012, 4:24 PM EDT) -- A Delaware judge tossed a shareholder class action on Friday over Oracle Corp.'s $1 billion buyout of e-commerce company Art Technology Group Inc., finding no basis for various claims that ATG’s directors breached their duty to investors in the deal.

Vice Chancellor J. Travis Laster dismissed the suit with prejudice in a judgment filed in Delaware Chancery Court. Oracle closed its acquisition of ATG in early 2011 after the ATG shareholders won a brief delay in the deal for added disclosures, but the plaintiffs continued to...
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