Oracle Investors Want Class Cert. In Securities Fraud Suit

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By Caleb Drickey (October 12, 2021, 5:03 PM EDT) — A group of Oracle Corp. investors who accused the tech company of covering up coercive sales techniques used by its cloud computing business has asked a California federal court to grant class certification of their securities fraud claims.

In a motion filed on Friday, the investors argued that a proposed class of shareholders and Oracle securities traders was sufficiently numerous and that claims were sufficiently uniform to justify a single class action.

If granted, the investors’ motion would create a class of “many thousands” of shareholders who traded over four billion shares of Oracle stock during the class period, which extends…