BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the October 9, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Oracle Corporation (“Oracle” or the “Company”) (NYSE: ORCL) securities between May 10, 2017, and March 19, 2018, inclusive (the “Class Period”).
Investors suffering losses on their Oracle investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
The complaint filed in this class action alleges that the Company made false and misleading statements to the market regarding the Company’s sales practices. Specifically, the complaint alleges that Oracle’s cloud revenues were driven, at least in part, by improper, coercive sales practices, which include: (1) threatening existing customers with “audits” of their use of Oracle’s non-cloud software licenses and levying expensive penalties against those customers, unless the customers agreed to shift their business to Oracle cloud programs; (2) decreasing customer support for certain Oracle on-premises or hardware systems, in an effort to drive customers away from such systems and into cloud-based systems; and (3) strong-arming customers by threatening to dramatically raise the cost of legacy database licenses if the customers choose another cloud provider.
If you purchased shares of Oracle during the Class Period you may move the Court no later than October 9, 2018 to ask the Court to appoint you as lead plaintiff. 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 www.howardsmithlaw.com.
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