Oracle Corporation. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Oracle Corporation (“Oracle”) (NYSE: ORCL) securities between May 10, 2017 and March 19, 2018.
The complaint alleges that throughout the Class Period defendants issued false and misleading statements regarding Oracle’s cloud revenues and failed to disclose that these revenues were driven, at least in part, by improper, coercive sales practices, including: (1) threatening existing customers with “audits” of their use of Oracle’s non-cloud software licenses and levying expensive penalties against those customers, unless the customers agreed to shift their business to Oracle cloud programs; (2) decreasing customer support for certain Oracle on-premises or hardware systems, in an effort to drive customers away from such systems and into cloud-based systems; and (3) strong-arming customers by threatening to raise the cost of legacy database licenses dramatically if the customers choose another cloud provider.
“Oracle Corporation”
If you suffered a loss in Oracle you have until October 9, 2018 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.
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