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Investor sues Oracle over $200 million settlement

Suit claims forced litigation, which ultimately led to higher settlement

An Oracle investor sued the company and its board yesterday, claiming they refused to cooperate in a whistleblower lawsuit that the company ultimately settled for $200 million—far more than it should have, the suit says.

Jordan Weinrib claims Oracle’s CEO and past and present board members did not consider the best interest of the shareholders when it engaged in excessive litigation over the whistleblower’s allegations. The whistleblower suit centered on a former Oracle director’s claims in 2007 that the company violated price-reduction clauses in federal contracts. The investor’s recent suit says the defendants knew those allegations were true.


Cathleen Flahardy

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