PeopleSoft Investors May Sue Over Deal
Shareholders of PeopleSoft Inc. are discussing the possibility of a new lawsuit over the company’s resistance to takeover efforts by Oracle Corp., a shareholder lawyer said.
The lawsuit would be aimed at a recent decision by PeopleSoft’s board to spurn an $8.8-billion offer, the latest in a series in Oracle’s 17-month attempt to buy the rival software maker.
“We are discussing with our clients what actions are possible in light of recent events,” said Bruce Jameson, lead lawyer in a consolidated class action brought last year when Oracle made its first offer and was rebuffed.
Shares of PeopleSoft slipped 11 cents to $22.54. Oracle fell 38 cents to $13.01. Both are listed on Nasdaq.