Glancy prongay & murray llp announces the filing of a securities class action on behalf of oracle corporation investors

Los angeles--(business wire)--national securities litigation law firm glancy prongay & murray llp (“gpm”) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired securities of oracle corporation (“oracle” or the “company”) (nyse: orcl) 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. investors that suffered losses on their oracle investments are encouraged to contact lesley portnoy of gpm to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com. 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 of 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 plaintiff. 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 shareholders@glancylaw.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.
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