Thieler Law Corp advises investors with losses exceeding $100,000 of the October 9, 2018 lead plaintiff deadline in a class action lawsuit filed against Oracle Corporation (NYSE: ORCL) (“Oracle” or “the Company”). The suit is pending in the U.S. District Court for the District of Northern California and investors, who purchased Oracle Corporation securities between May 10, 2017, and March 19, 2018, have until October 9, 2018 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Oracle Corporation securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that 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; 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 strong-arming customers by threatening to dramatically raise the cost of legacy database licenses if the customers choose another cloud provider.

On March 19, 2018, the Company revealed that its cloud business's revenue growth had stagnated and forecasted significantly slower sales growth for its cloud business than its competitors.  Following this disclosure, analysts connected Oracle's poor financial performance to improper sales practice, observing that the Company had relied on coercive practices to conceal the lack of real demand for its cloud products. 

Following this news, NYSE: ORCL fell $4.90 per share, or 9.43%, to close at $47.05 on March 20, 2018.

If you were negatively impacted by your investment in Oracle Corporation securities between May 10, 2017, and March 19, 2018 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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