1. Oracle is Suing Larry Ellison and Safra Catz Over The $9 Billion NetSuite Deal, Thanks to Letter Written by Three Oracle Board Members

    Business Insider BoardNews
    Oracle is Suing Larry Ellison and Safra Catz Over The $9 Billion NetSuite Deal, Thanks to Letter Written by Three Oracle Board Members
    • 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...
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    1. After carefully considering the issues, the SLC determined it was in the Company's best interests to allow the Lead Plaintiff (rather than the SLC) to proceed with litigation on behalf of Oracle.
    2. We appreciate the confidence placed in us by the special litigation committee.

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