Oracle Headquarters in Redwood Shores. Photo: Jason Doiy/ALM Supreme Court Asked If Ellison's Plans Affected Oracle's NetSuite Acquisition
Counsel for shareholders said Larry Ellison's plans for NetSuite post-acquisition should have been disclosed to the special committee considering the deal.
October 23, 2024 at 04:05 PM
3 minute read
Oracle shareholders' counsel told the Delaware Supreme Court on Wednesday that the Court of Chancery should have taken a closer look at whether chairman Larry Ellison's plans would have swayed board members considering an acquisition of NetSuite.
The case, in which Vice Chancellor Sam Glasscock III ruled in Oracle's favor after trial in May 2023, has raised questions about conflicted transactions, an area of Delaware case law in which the Supreme Court has addressed multiple times in recent years.
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