Trial for PeopleSoft Refund Set for March
From Dow Jones/Associated Press
A trial over PeopleSoft Inc.’s customer-refund program is scheduled for late March and early April, the software company said in a regulatory filing.
The Delaware Court of Chancery has decided to “tentatively reserve time” in March and April for a possible trial or other proceedings, the Pleasanton, Calif.-based company said in the Securities and Exchange Commission filing.
A group of PeopleSoft shareholders have sued to have the refund program blocked, saying it’s an anti-takeover defense. Oracle Corp., which is trying to buy PeopleSoft, has joined the suit.
PeopleSoft shares fell 4 cents to $21.41 on Nasdaq, remaining above Oracle’s $19.50-a-share offer.
