Oracle Investor Sues Over $200 Million Whistle-Blower Accord

By Sophia Pearson – Bloomberg Businessweek

Oracle Corp. (ORCL) directors, including Chief Executive Officer Larry Ellison, were sued by an investor for failing to mitigate damages when the company agreed to a $200 million whistle-blower settlement with the U.S. government.

Directors violated their fiduciary duties by forcing the government into extensive litigation even though they knew the allegations were “grounded in fact,” shareholder Jordan R. Weinrib said in a complaint filed today in Delaware Chancery Court (1400L) in Wilmington.

This article can be found in its entirety on the Bloomberg Businessweek website.