Legal Opinion
In Re Oracle Securities Litigation
District Court, N.D. California
Decided August 9, 1993No. C-90-0931-VRWPublishedCited by 32 opinions
1Opinion of the Court
ORDER
WALKER, District Judge.
The settlement of these consolidated class and derivative actions must be disapproved because, although plaintiffs’ claims appear to be weak and the consideration offered by Oracle to settle the class action is relatively large, the court is unable to conclude that the Oracle directors who approved the derivative settlement acted with the independence required under Delaware law.
I
The first complaint in this securities class action litigation arrived in the clerk’s office on March 29, 1990, two days after Oracle Systems Corporation, a Delaware corporation with its…
2Cases cited31 opinions
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- City of Detroit v. Grinnell Corporation, Manhattan-Ward, Incorporated v. Grinnell Corporation, 1225 Vine Street Building, Inc. v. Grinnell CorporationCourt of Appeals for the Second Circuit · 1974
- Aronson v. LewisSupreme Court of Delaware · 1984
- Fed. Sec. L. Rep. P 95,228 Rocco Dileo and Louise Dileo v. Ernst & YoungCourt of Appeals for the Seventh Circuit · 1990
26 more not listed; retrieve them via the Exa API.
3Cited by32 opinions
- In Re Pacific Enterprises Securities Litigation. Lee J. Principe Ken Rudd Steven Friedland Myra Friedland Leonard Held Pisnoi Lumber & Trim Co., Inc. Pension Trust Charles Thomas Miller William Steiner Pacific Enterprises, by Pisnoi Lumber & Trim Co., Inc. Pension Trust Sheldon Shore Edith Citron William P. Anglim W.M. Rogers, of the Estate of Lydia P. Rogers Eric J. Kakofsky Herbert L. Eisen James Foxwell Martin Seltzer Marjorie Seltzer, as Joint Tenants Shareholders Suing Derivatively and on Its Behalf v. James R. Ukropina Willis B. Wood, Jr. Hyla H. Bertea Herbert L. Carter James F. Dickason Wilford D. Godbold, Jr. Ignazio C. Lozana, Jr. Harold M. Messmer, Jr. Paul A. Miller Joseph N. Mitchell Joseph R. Rensch Rocco C. Siciliano Leonard H. Straus Daniel G. Volkmann, Jr. Diana L. Walker James H. Zumberge Stanley A. Ratzlaff Pacific Enterprises Deloitte & Touche v. Sam WeinsteinCourt of Appeals for the Ninth Circuit · 1995
- Cook v. Rockwell International Corp.District Court, D. Colorado · 2008
- Overstock.com, Inc. v. Gradient Analytics, Inc.California Court of Appeal · 2007
- In Re Enron Corp. SecuritiesDistrict Court, S.D. Texas · 2006
- In Re Northern Telecom Ltd. Securities LitigationDistrict Court, S.D. New York · 2000
27 more not listed; retrieve them via the Exa API.