RightNow Shareholder Sues To Block $1.5B Oracle Deal

Law360, Wilmington (October 26, 2011, 5:50 PM EDT) -- A RightNow Technologies Inc. shareholder hit the company with a class action Tuesday challenging Oracle Corp.’s $1.5 billion acquisition of the cloud-based customer service software maker, saying both the offer price and sale process were “fundamentally unfair” to investors.

RightNow’s directors breached their duty to shareholders by bailing on the company’s successful business plan just as it was bearing fruit, handing Oracle a coveted asset at a bargain price, according to a complaint lodged by Sanjay Israni in Delaware Chancery Court.

“Neither RightNow’s management, nor its...
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