Legal Opinion
In Re Oracle Corp.
Court of Chancery of Delaware
Decided December 2, 2004No. C.A. 18751PublishedCited by 60 opinions
1Opinion of the Court
OPINION
STRINE, Vice Chancellor.
This derivative action involves a claim that two of the top officers at Oracle Corporation breached their fiduciary duty of loyalty to the company by selling stock in the company at a time when they possessed material, adverse, nonpublic information about the company. The plaintiffs thus raise a claim under the venerable case of Brophy v. Cities Service Co. 1 Defendant Lawrence J. Ellison is Oracle’s largest stockholder and was its Chairman of the Board and Chief Executive Officer at the time of the events relevant to this case. Defendant Jeffrey 0. Henley was…
2Cases cited39 opinions
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- TSC Industries, Inc. v. Northway, Inc.Supreme Court of the United States · 1976
- Shaw v. Digital Equipment Corp.Court of Appeals for the First Circuit · 1996
- Acito v. IMCERA Group, Inc.Court of Appeals for the Second Circuit · 1995
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3Cited by60 opinions
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- Official Committee of Unsecured Creditors of Fedders North America, Inc. Ex Rel. Debtors' Estates v. Goldman Sachs Credit Partners L.P. (In Re Fedders North America, Inc.)United States Bankruptcy Court, D. Delaware · 2009
- In re Wayport, Inc. LitigationCourt of Chancery of Delaware · 2013
- In Re Toys" R" US, Inc.Court of Chancery of Delaware · 2005
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