Taleo Investor Sues To Halt $1.9B Oracle Deal

Law360, Wilmington (February 15, 2012, 7:00 PM EST) -- A Taleo Corp. shareholder on Tuesday launched a putative class action in Delaware seeking to block Oracle Corp.'s $1.9 billion offer for the cloud-based human resources software company, saying the deal shortchanges investors.

Redwood Shores, Calif.-based Oracle announced the $46 per share deal on Feb. 9, hailing the acquisition as another step in the software giant’s effort to build a comprehensive cloud-based software platform for businesses.

But, according to a complaint lodged by Hilary Coyne in Delaware Chancery Court, Taleo’s board breached their duty to shareholders...
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