Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Oracle Corporation Investors and Encourages Investors to Contact the Firm

LOS ANGELES--(BUSINESS WIRE)--

Glancy Prongay & Murray LLP ("GPM") announces that a class action lawsuit has been filed on behalf of investors who purchased Oracle Corporation ("Oracle" or the "Company") ORCL securities between September 16, 2015 and June 1, 2016, inclusive (the "Class Period"). Oracle investors have until August 1, 2016 to file a lead plaintiff motion.

Investors suffering losses on their Oracle investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.

On June 1, 2016, after market close, several news reports disclosed that a former Oracle finance manager has filed a whistleblower lawsuit against the Company. The whistleblower complaint alleges that Oracle asked the manager to boost Oracle's cloud computing revenue figures, and make the cloud computing segment's performance look better. On this news the Company's shares fell over $1.80 per share during intraday trading on June 2, 2016.

The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Oracle used improper accounting practices to inflate the Company's cloud computing revenues by millions of dollars; (ii) Oracle violated certain laws and regulations when it terminated a senior finance manager for raising the Company's improper accounting practices to the attention of her supervisors; and (iii) as a result of the foregoing, Oracle's public statements were materially false and misleading at all relevant times.

If you purchased shares of Oracle during the Class Period you may move the Court no later than August 1, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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