IN RE ORACLE CORPORATION DERIVATIVE LITIGATION

Consolidated C.A. No. 2017-0337-SG.

IN RE ORACLE CORPORATION DERIVATIVE LITIGATION.

Court of Chancery of Delaware.

Decided: June 22, 2020.


Attorney(s) appearing for the Case

Joel Friedlander , Jeffrey M. Gorris , Christopher P. Quinn , and Bradley P. Lehman , of FRIEDLANDER & GORRIS, P.A., Wilmington, Delaware; OF COUNSEL: Randall J. Baron and David A. Knotts , of ROBBINS GELLER RUDMAN & DOWD LLP, San Diego, California; Christopher H. Lyons , of ROBBINS GELLER RUDMAN & DOWD LLP, Nashville, Tennessee; Brian J. Robbins , Stephen J. Oddo , and Gregory Del Gaizo , of ROBBINS LLP, San Diego, California, Attorneys for Lead Plaintiff Firemen's Retirement System of St. Louis.

Elena C. Norman and Richard J. Thomas , of YOUNG CONAWAY STARGATT & TAYLOR, LLP, Wilmington, Delaware; OF COUNSEL: Peter A. Wald , of LATHAM & WATKINS LLP, San Francisco, California; Blair Connelly , of LATHAM & WATKINS LLP, New York, New York, Attorneys for Defendants Lawrence J. Ellison and Safra A. Catz.

Kenneth J. Nachbar , John P. DiTomo , and Thomas P. Will , of MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; OF COUNSEL: Sara B. Brody and Jaime A. Bartlett , of SIDLEY AUSTIN LLP, San Francisco, California; Matthew J. Dolan , of SIDLEY AUSTIN LLP, Palo Alto, California, Attorneys for Defendants Jeffrey O. Henley, Renée J. James, and Paula R. Hurd as Trustee of the Hurd Family Trust.

A. Thompson Bayliss and E. Wade Houston , of ABRAMS & BAYLISS LLP, Wilmington, Delaware; OF COUNSEL: John W. Spiegel , George M. Garvey , and John M. Gildersleeve , of MUNGER, TOLLES & OLSON LLP, Los Angeles, California, Attorneys for Defendant Evan Goldberg.

Andrew S. Dupre and Sarah E. Delia , of McCARTER & ENGLISH, LLP, Wilmington, Delaware; OF COUNSEL: Robert P. Feldman , of QUINN EMANUEL URQUHART & SULLIVAN, LLP, Redwood Shores, California; Christopher D. Kercher , of QUINN EMANUEL URQUHART & SULLIVAN, LLP, New York, New York, Attorneys for Defendant Zachary Nelson.

Thomas A. Beck , Blake Rohrbacher , Susan M. Hannigan , Matthew D. Perri , and Daniel E. Kaprow , of RICHARDS, LAYTON & FINGER, P.A., Wilmington, Delaware, Attorneys for Nominal Defendant Oracle Corporation.


MEMORANDUM OPINION

This matter was brought by stockholders of a major technology company, Oracle Corporation ("Oracle"). They allege that breaches of fiduciary duty inhere in Oracle's overpriced acquisition of a second technology company, NetSuite, Inc. ("NetSuite"). The fiduciary duty...

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