Oracle, Investors Look To Mediate Row Over Pillar Purchase

Law360, Wilmington (August 13, 2013, 9:29 PM EDT) -- Oracle Corp. shareholders and directors asked a Delaware chancery judge Tuesday to schedule mediation in an attempt to resolve a derivative suit over the software giant's acquisition of Pillar Data Systems Inc., which had been majority-owned by Oracle CEO Larry Ellison.

The City of Roseville Employees' Retirement System targeted Oracle's board in 2011 for its role in approving the deal, and the complaint moved forward last year after Chancellor Leo E. Strine Jr. refused to dismiss the suit. But both sides are now willing to have...
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