Oracle Investor Suit Tossed For Meritless Claims

Law360, New York (June 16, 2009, 12:00 AM EDT) -- A federal court has dismissed an eight-year-old securities suit alleging that Oracle Corp. and its executives lied to investors about the software giant’s financial performance in 2001, ruling that the claims are without merit.

In a 49-page opinion issued Tuesday in the U.S. District Court for the Northern District of California, Judge Susan Illston granted Oracle’s motion for summary judgment, denied the plaintiffs’ motion for partial summary judgment and dismissed the case with prejudice.

Launched in 2001 by investors who bought publicly traded securities issued by...
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