An eight-year lawsuit in the US against Oracle CEO Larry
Ellison has been dismissed because of a lack of evidence.
Eight years ago a
lawsuit was launched alleging that Ellison had made false
claims that boosted Oracle's share price before he sold millions of
them.
Judge Susan Illston of the US District Court for Northern
California ruled that the claims were without merit and granted
Oracle's request for summary judgment.
The plaintiffs, made up of investors, claimed that they were
harmed when Oracle subsequently missed its earnings forecast and
the company's share price fell.
"We are extremely gratified that the court has ruled in our
favour and brought this long-standing and meritless case to an
end," said Deborah Hellinger, an Oracle spokeswoman
told
the Wall Street Journal.
