A shareholder’s derivative suit was filed against Oracle Corp. based upon actions by its board of directors which resulted in an $8 million False Claims Act settlement in 2005, a $98.5 million False Claims Act settlement in 2006, and a currently pending False Claims Act case.  The suit alleges that the board of directors’ actions have cost the company billions, as well as tarnished its reputation.

Both the former and current suits against Oracle allege that it overcharged the federal government by hundreds of millions of dollars by inflating its prices.  In some instances, Oracle allegedly overcharged by more than 50 percent.

Read the entire article, “Oracle Shareholder Scorches Ellison & Board”