Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Northern District of California on behalf of shareholders of Oracle Corporation (“Oracle” or the “Company”) (NYSE: ORCL) who purchased shares between September 16, 2015 and June 1, 2016.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Oracle used improper accounting practices to inflate the Company’s cloud computing revenues by millions of dollars; (ii) Oracle violated certain laws and regulations when it terminated a senior finance manager for raising the Company’s improper accounting practices to the attention of her supervisors; and (iii) as a result of the foregoing, Oracle’s public statements were materially false and misleading at all relevant times. On June 1, 2016, media outlets reported that Oracle’s former senior finance manager, Svetlana Blackburn, is suing the Company for wrongful termination, alleging the Company terminated her employment after she complained about improper accounting practices in Oracle’s cloud services business.
If you suffered a loss in Oracle Corporation you have until August 1, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
To receive more information, please fill out the form.