Eloqua Shareholder Challenges $871M Oracle Buyout

Law360, Los Angeles (January 4, 2013, 9:57 PM EST) -- An Eloqua Inc. shareholder hit the software company, its top executives and buyout suitor Oracle Corp. with a securities class action in Virginia federal court on Thursday, saying Oracle’s $871 million proposed acquisition is unfair and the result of conflicts of interest.

The lawsuit challenges the proposed deal and raises allegations that Eloqua Chief Executive Officer Joseph P. Payne and other board members, who unanimously approved the deal in December, undervalued the Vienna, Va.-based company for their personal financial benefit, agreeing to a $23.50 share price...
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