August 1 deadline alert: law offices of howard g. smith reminds investors of the lead plaintiff deadline in the class action lawsuit against oracle corporation

Bensalem, pa.--(business wire)--law offices of howard g. smith reminds investors of the upcoming august 1, 2016 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “class”) of investors who purchased oracle corporation (“oracle” or the “company”) (nyse: orcl) securities between september 16, 2015 and june 1, 2016, inclusive (the “class period”). oracle investors have until august 1, 2016 to file a lead plaintiff motion. on june 1, 2016, after market close, several news reports disclosed that a former oracle finance manager has filed a whistleblower lawsuit against the company. the whistleblower complaint alleges that oracle asked the manager to boost oracle’s cloud computing revenue figures, and make the cloud computing segment’s performance look better. on this news the company’s shares fell over $1.80 per share during intraday trading on june 2, 2016. the complaint alleges that throughout the class period, defendants made false and/or misleading statements and/or failed to disclose that: (i) oracle used improper accounting practices to inflate the company’s cloud computing revenues by millions of dollars; (ii) oracle violated certain laws and regulations when it terminated a senior finance manager for raising the company's improper accounting practices to the attention of her supervisors; and (iii) as a result of the foregoing, oracle’s public statements were materially false and misleading at all relevant times. 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 howard g. smith, esquire, of law offices of howard g. smith, 3070 bristol pike, suite 112, bensalem, pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com. this press release may be considered attorney advertising in some jurisdictions under the applicable law and ethical rules.
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