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Judge Sides With Ellison in Oracle Shareholders’ NetSuite Deal Lawsuit

A Delaware court has ruled in favor of Oracle’s Larry Ellison after shareholders alleged that he used his position on the technology company’s board to pay a grossly inflated price — in a deal valued at $9.3 billion– to buy software company NetSuite Corp. in 2016.

Ellison at the time owned a larger percentage of NetSuite (at 39.8%) than he did at Oracle (at 28.4 %), and the aggrieved shareholders contended this represented a conflict of interest.

Vice Chancellor Samuel Glasscock III rejected the plaintiff’s allegation that the deal should have been subject to a more rigorous review because of his stake in NetSuite and status as…

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