Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Oracle Corporation
LOS ANGELES, Oct. 08, 2018 (GLOBE NEWSWIRE) -- National class action law firm Glancy Prongay & Murray LLP (“GPM”) reminds investors of the October 9, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Oracle Corporation (“Oracle” or the “Company”) (NYSE: ORCL ) securities between May 10, 2017, and March 19, 2018, inclusive (the “Class Period”). Oracle investors have until October 9, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed in this class action alleges that the Company made false and misleading statements to the market regarding the Company’s sales practices. Specifically, the complaint alleges that Oracle’s cloud revenues were driven, at least in part, by improper, coercive sales practices, which include: (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 dramatically raise the cost of legacy database licenses if the customers choose another cloud provider.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares Oracle during the Class Period you may move the Court no later than October 9, 2018 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.