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Judge ends long-running Oracle lawsuit

by on17 June 2009

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Larry Ellison cleared of knowing anything

 

A US federal judge has thrown out a long-running lawsuit accusing Oracle of misleading investors about the company's health before the tech meltdown of 2001.

The case was filed eight years ago, and claims that Oracle lied to investors about how badly the dot-com bust was hurting business. It claimed that insiders knew deals were collapsing but stood behind a rosy outlook. But Judge Susan Illston in US District Court for the Northern District of California tossed the lawsuit out of court.

She ruled the plaintiffs didn't prove that Oracle and CEO Larry Ellison had any early signals that the company was going to miss its forecasts. Quite how it took eight years to make that decision is anyone's guess. We sometimes have difficulty working out what to cook for dinner [It is because you are getting old. sub.ed].

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