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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Kahl v. Eloqua, Inc. et al


Case Number

1:13-cv-00007

Court

Virginia Eastern

Nature of Suit

Stockholders Suits

Judge

Liam O'Grady

Date Filed

January 3, 2013

Law Firms

Companies

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.