Oracle is suing Larry Ellison and Safra Catz over the $9 billion NetSuite deal, thanks to letter written by three Oracle board members (ORCL)
|08/22/2019||Posted by BusinessMediaguide.Com under General World News||
- A three-member committee of Oracle’s board has written an extraordinary letter to a Delaware court.
- The letter, dated August 15, grants permission for a shareholder-initiated lawsuit to proceed against Oracle founder and chairman Larry Ellison, as well as one of Oracle’s co-CEOs, Safra Catz.
- This is a “derivative lawsuit” meaning it was filed on behalf the company against the directors. Such suits argue that the directors are acting in their own self-interest and can’t be trusted to act in the interest of the company.
- If the suit proceeds and is not settled, the entity suing Ellison and Catz is read more >>>