Strine Won't Speed Oracle Investor Deal After Insurer's Win

Law360, New York (January 16, 2014, 8:58 PM EST) -- A Delaware Chancery judge on Thursday refused to quickly schedule an approval hearing on a tentative settlement of an Oracle Corp. shareholder suit — just days after the dismissal of a related suit seeking to force an insurer to cover up to $19.9 million in attorneys' fees.

In a brief letter, Chancellor Leo Strine Jr. said he was “disinclined” to schedule a hearing to greenlight the proposed settlement of a 2011 derivative lawsuit, which claimed Oracle's deal to buy Pillar Data Systems Inc. was designed to...
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