PeopleSoft mounts charges against Oracle

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PALO ALTO: PeopleSoft Inc. said on Tuesday it expanded its lawsuit against Oracle Corp., alleging it had new facts about Oracle's ongoing efforts to disrupt PeopleSoft's business as Oracle pursues its $7.3 billion hostile takeover bid for PeopleSoft.

PeopleSoft said it amended its original lawsuit, filed in Alameda County Superior Court in June, adding "extensive new facts" to back what it called Oracle's ongoing unfair trade practices, including efforts to disrupt relationships with PeopleSoft customers and users of software from J.D. Edwards & Co., which PeopleSoft recently acquired.

PeopleSoft, based in Pleasanton, California, also said it added new information regarding its allegation that Oracle had undertaken a campaign to deliberately mislead PeopleSoft customers about Oracle's plans to support PeopleSoft products.

PeopleSoft also said it consolidated its lawsuit with the one filed against Oracle by J.D. Edwards, and as a result would voluntarily dismiss J.D. Edwards' claims.

Portions of the amended complaint have been filed with the court under seal. PeopleSoft continues to seek injunctive relief and damages, including damage caused to J.D. Edwards.

PeopleSoft has rejected Oracle's bid, which is currently undergoing an antitrust review by the Department of Justice.

"It would be inappropriate for us to comment without having seen the filing," said Oracle spokesman Jim Finn, who added that Oracle had expected PeopleSoft to file an amended complaint.

"It does not change our commitment to acquire PeopleSoft," Finn said.

On Tuesday, Oracle shares closed up 48 cents, or 4 percent, at $12.16 on the Nasdaq, while PeopleSoft's stock gained 39 cents, or 2 percent, to finish at $16.98.

© Reuters