Oracle, Ellison Dodge Investor Suit Over Board Diversity

By Dean Seal (May 24, 2021, 9:06 PM EDT) -- A California federal magistrate judge ruled that a shareholder derivative action against Oracle Corp. failed to show that board members and billionaire co-founder Larry Ellison misled the public about Oracle's diversity commitments.

U.S. Magistrate Judge Jacqueline Scott Corley dismissed claims for securities law violations and breach of fiduciary duty against the software giant on Friday, finding that Oracle's bylaws require derivative actions to play out in the Delaware Chancery Court.

According to the judge, the complaint is also "devoid of particular facts that suggest the board did not believe what it stated" about its commitment to establishing a diverse workforce, its thoughts...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!