Harman Patil (Editor)

In re Oracle Corp Derivative Litigation

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Citation(s)
  
824 A.2d 917 (2003)

End date
  
2003

Location
  
Delaware, United States

Ruling court
  
Delaware Supreme Court

In re Oracle Corp Derivative Litigation httpsuploadwikimediaorgwikipediacommonsthu

In re Oracle Corp Derivative Litigation, 824 A.2d 917 (2003) is a US corporate law case, concerning the derivative suits in Delaware.

Contents

Facts

A group of shareholders in the Oracle Corporation sought to bring a derivative suit on allegations of insider trading against the corporation's directors. The shareholders made a demand on the board to litigate, and this was rejected. The shareholders therefore asked the court for permission to bring the claim on the basis of the director's personal ties, and that the board was conflicted.

Judgment

The Delaware Court held that the derivative claim, based on insider trading, against Oracle Corp CEO Larry Ellison could proceed. The director had personal ties, and so a decision by the board to reject the claim could not be conclusive.

Significance

The case was subsequently settled.

References

In re Oracle Corp Derivative Litigation Wikipedia