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ARTICLE · 12 MAY 2022

Court Certifies Sunrise Firefighter's Class Action

Tactical Law Group LLP
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Judge Freeman ruled previously that such a theory states a claim for securities fraud by omission.

United StatesLitigation, Mediation & Arbitration
Pamela Fulmer
Pamela Fulmer

On May 9, 2022, Judge Freeman of the Northern District of California granted the lead Plaintiff's Union Asset Management Holdings AG's Motion for Class Certification in the Sunrise Firefighter's Class Action against Oracle and several members of its senior management.   This is certainly bad news for Oracle. 

Readers of our blog will remember that the class action lawsuit alleges that Oracle and its management committed securities fraud when they omitted to inform the investing public that Oracle's increase in sales of Oracle's cloud software products was fueled in part by predatory audits of Oracle customers, rather than the quality of the Oracle cloud software.  Judge Freeman ruled previously that such a theory states a claim for securities fraud by omission.

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