NOTICE For Investors In NYSE: ORCL Shares: Update in Lawsuit against Oracle Corporation announced by Shareholders Foundation

San Diego, California--(Newsfile Corp. - June 30, 2020) -  The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of Oracle Corporation (NYSE: ORCL).

Investors, who purchased shares of Oracle Corporation (NYSE: ORCL) and continue to hold any of their NYSE: ORCL shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On August 10, 2018, a lawsuit was filed against Oracle Corporation over alleged Securities Laws Violations. The plaintiff alleged that the defendants falsely attributed the Company's revenue growth in its cloud segment to a variety of factors and initiatives, including, among other things, Oracle's "unprecedented level of automation and cost savings," as well as the Company being "customer-focused" and "intimate partners with our customer."

According to the plaintiff, in truth, Oracle drove sales of cloud products using threats and extortive tactics. The use of such tactics concealed the lack of real demand for Oracle's cloud services, making the growth unsustainable and ultimately driving away customers. Among other things, the plaintiff claimed, the Company threatened current customers with "audits" of their use of the Company's non-cloud software licenses unless the customers agreed to shift their business to Oracle cloud programs. The plaintiff says the truth was revealed on March 19, 2018, when the Company disclosed that cloud revenue growth had stagnated and forecasted significantly slower sales growth for its cloud business than its competitors. The plaintiff says that following these disclosures, analysts and market commentators connected Oracle's poor financial performance to its improper sales tactics.

On March 8, 2019, a consolidated complaint was filed, and the defendants filed their motion to dismiss the lawsuit.

On December 17, 2019, the court granted the defendant's motion to dismiss with leave to amend the complaint.

On February 17, 2020, an amended consolidated complaint was filed.

Those who purchased Oracle Corporation (NYSE: ORCL) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

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