Oracle Derivative Suits Survive Venue Fight

Law360, New York (January 4, 2011, 4:27 PM EST) -- A federal judge has nixed Oracle Corp.'s bid to toss two derivative suits alleging it overcharged the U.S. government, finding directors may not control the venue for shareholder actions against them with bylaws requiring cases be filed in a particular forum.

Ruling on a question of first impression, Judge Richard Seeborg of the U.S. District Court for the Northern District of California denied Oracle’s motions to dismiss the suits because its bylaws specify the Delaware Chancery Court as the sole proper venue for derivative actions....
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Prince v. Berg et al


Case Number

3:10-cv-04233

Court

California Northern

Nature of Suit

Stockholders Suits

Judge

Richard Seeborg

Date Filed

September 20, 2010

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.