Oracle Corp. has appealed to a judge, requesting the denial of a $5 million attorney award sought by a pension fund’s lawyers. These lawyers had unsuccessfully challenged Oracle’s 2016 acquisition of NetSuite Inc. According to a hearing on Friday, it was noted that the pension fund’s attorneys are petitioning the Delaware Court of Chancery to take an unprecedented step in a case that was neither settled nor dismissed. Blake Rohrbacher, one of Oracle’s legal representatives from Richards Layton & Finger PA, argued that the request is a concerted effort to financially “soak” the company that was victorious at trial subsequent to years of litigation.
The origins of this contention trace back to a lawsuit filed by Oracle’s founder, Ellison, over the 2016 deal. The lawsuit was subsequently ruled in favor of Ellison. Oracle’s latest move represents a fresh chapter in this long-running legal saga, as the tech giant now pushes back against what it perceives to be an unwarranted and unprecedented legal fee award.
For more in-depth details relating to this ongoing case, please read the full report on
Bloomberg Law.