NetSuite Execs Escape Suit Over $9.3B Oracle Merger
Law360 (June 22, 2020, 9:56 PM EDT) -- The Delaware Chancery Court trimmed a shareholder derivative challenge to Oracle Corp.'s $9.3 billion acquisition of NetSuite Inc. on Monday, freeing NetSuite executives from the suit and leaving intact breach of fiduciary duty claims against Oracle's top brass.
Vice Chancellor Sam Glasscock III granted a bid by NetSuite co-founder Evan Goldberg and former CEO Zachary Nelson — both of whom previously worked for Oracle — to dismiss claims that they aided and abetted Oracle's executives in breaching their duties, halving the two-count complaint.
Lead plaintiff Firemen's Retirement System of St. Louis had argued that the NetSuite defendants wrongly kept silent about...
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