Judge Allows Some Securities Law Claims To Proceed In Oracle Stock-Drop Suit

Mealey's (March 23, 2021, 2:34 PM EDT) -- SAN JOSE, Calif. — A federal judge in California on March 22 ruled that although she agreed in large part that the lead plaintiff in a securities class action against technology company Oracle Corp. and certain of its current and former senior executives has failed to sufficiently plead material misrepresentations or omissions in pleading its federal securities law claims against the defendants, the lead plaintiff has adequately pleaded a “narrow omission-based theory of fraud,” allowing some of the lead plaintiff’s claims to proceed in a “close call.”...