Market Overview

Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Oracle Corporation (ORCL) and Encourages Investors to Contact the Firm

Share:

NEW YORK, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Oracle Corporation (NYSE:ORCL) securities between May 10, 2017 and March 19, 2018, (the "Class Period").  Investors have until October 9, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

The Complaint alleges that, throughout the Class Period, Defendants misrepresented the true drivers of the Company's cloud revenue growth.  In particular, Defendants falsely attributed the Company's revenue growth in its cloud segment to a variety of factors and initiatives, including, among other things, Oracle's "unprecedented level of automation and cost savings," as well as the Company being "customer-focused" and "intimate partners with our customer."  In truth, Oracle drove sales of cloud products using threats and extortive tactics.  The use of such tactics concealed the lack of real demand for Oracle's cloud services, making the growth unsustainable and ultimately driving away customers.  Among other things, the Company threatened current customers with "audits" of their use of the Company's non-cloud software licenses unless the customers agreed to shift their business to Oracle cloud programs.

If you purchased Oracle securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form.  There is no cost or obligation to you.

Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation.  For additional information concerning the Oracle Corporation lawsuit, please go to https://bespc.com/oracle/.  For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com.

Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com

Primary Logo

View Comments and Join the Discussion!