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

Meet the leading female front runners of the Kiwi channel

Meet the leading female front runners of the Kiwi channel

Reseller News honoured the leading female front runners of the New Zealand channel at the 2018 Women in ICT Awards (WIICTA) in Auckland. The awards honoured standout individuals across seven categories, spanning Entrepreneur; Innovation; Rising Star; Shining Star; Community; Technical and Achievement.

Meet the leading female front runners of the Kiwi channel
Meet the top performing customer-centric Microsoft channel partners

Meet the top performing customer-centric Microsoft channel partners

Microsoft honoured leading partners across the channel following a year of customer innovation and market growth in New Zealand. The 2018 Microsoft Partner Awards recognised excellence within the context of the end-user, spanning a host of emerging and established providers.

Meet the top performing customer-centric Microsoft channel partners
Reseller News launches new-look Awards at 2018 Judges’ Lunch

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Introducing the Reseller News Innovation Awards, launched to the channel at the 2018 Judges’ Lunch in Auckland. With more than 70 judges now part of the voting panel, the new-look awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors.

Reseller News launches new-look Awards at 2018 Judges’ Lunch
Show Comments