Menu
Sun shareholders file lawsuits over Oracle buy

Sun shareholders file lawsuits over Oracle buy

Sun Microsystems shareholders filed three separate lawsuits last month in an effort to halt the company's pending sale to Oracle, according to a filing Sun made with the US Securities and Exchange Commission on Friday. The suits, filed in Santa Clara County, California, superior court, name Sun, some of its officials and Oracle as defendants, according to the filing. All three actions are aimed at blocking the US$7.4 billion sale, alleging the price tag is "unfair and inadequate". They also allege "claims for breach of fiduciary duty against the individual defendants and for aiding and abetting a breach of fiduciary duty against the corporate defendants," the filing states. The defendants have yet to file answers to the complaints, according to Sun. Oracle announced its plans to buy Sun in April, after reported talks between IBM and Sun fizzled. An Oracle spokeswoman declined to comment on the suits, but provided a statement saying that Sun had disclosed its potential violations of the FCPA prior to the acquisition agreement. More information about the lawsuits is available at various websites, including pr-inside.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Oraclesuninternational news

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments