Oracle Corporation Call Options Purchasers And Stock Purchasers Represented By Schatz & Nobel In Class Action Lawsuit

Apr 18, 2001, 01:00 ET from Schatz & Nobel, P.C.

    HARTFORD, Conn., April 18 /PRNewswire/ -- A lawsuit seeking class action
 status has been filed in the United States District Court for the Northern
 District of California on behalf of all persons who purchased common stock and
 publicly traded call options in Oracle Corporation (Nasdaq: ORCL) between
 December 15, 2000 and March 1, 2001, inclusive (the "Class Period").
     Plaintiff is represented by the law firm of Schatz & Nobel, P.C., which
 has significant experience prosecuting class actions on behalf of investors.
 If you wish to discuss this action or have any questions concerning this
 notice or your rights or interests with respect to these matters, please
 contact attorneys Andrew M. Schatz, Jeffrey S. Nobel, or Patrick A. Klingman,
 at (800) 797-5499, or by e-mail at sn06106@aol.com.  For more information
 about Schatz & Nobel, P.C., please visit our website at www.snlaw.net.
     The Complaint alleges that Oracle and its Chairman and CEO Larry Ellison
 misled shareholders and the investing public during the Class Period regarding
 the Company's operations and prospects for the third quarter of fiscal 2001
 and beyond.  Among other allegations, Plaintiffs claim that, contrary to
 public pronouncements, Oracle's new e-business software was fraught with
 massive technical problems and the billion dollars in savings achieved in 2000
 was not due to the use of Oracle's software, but rather to the termination of
 over 2000 employees (the majority of whom were within Oracle's service
 department).  Furthermore, it is alleged that Ellison sold almost $900 million
 worth of his own shares at artificially inflated prices during Class Period.
 On March 1, 2001, Oracle revealed that revenue and earnings per share would
 decline in the third quarter.  The next day, on record trading volume, the
 stock price for Oracle dropped to $16.88 per share, over 50% from its Class
 Period high of $35.00 per share.
     Plaintiff seeks to recover damages on behalf of all Class members.  If you
 purchased common stock or call options in Oracle between December 15, 2000 and
 March 1, 2001, and wish to act as a lead plaintiff, you may move the Court to
 act in that capacity not later than May 8, 2001.  If you wish to discuss your
 rights as lead plaintiff or as a class member, please contact Schatz & Nobel,
 P.C. toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com.
 
 

SOURCE Schatz & Nobel, P.C.
    HARTFORD, Conn., April 18 /PRNewswire/ -- A lawsuit seeking class action
 status has been filed in the United States District Court for the Northern
 District of California on behalf of all persons who purchased common stock and
 publicly traded call options in Oracle Corporation (Nasdaq: ORCL) between
 December 15, 2000 and March 1, 2001, inclusive (the "Class Period").
     Plaintiff is represented by the law firm of Schatz & Nobel, P.C., which
 has significant experience prosecuting class actions on behalf of investors.
 If you wish to discuss this action or have any questions concerning this
 notice or your rights or interests with respect to these matters, please
 contact attorneys Andrew M. Schatz, Jeffrey S. Nobel, or Patrick A. Klingman,
 at (800) 797-5499, or by e-mail at sn06106@aol.com.  For more information
 about Schatz & Nobel, P.C., please visit our website at www.snlaw.net.
     The Complaint alleges that Oracle and its Chairman and CEO Larry Ellison
 misled shareholders and the investing public during the Class Period regarding
 the Company's operations and prospects for the third quarter of fiscal 2001
 and beyond.  Among other allegations, Plaintiffs claim that, contrary to
 public pronouncements, Oracle's new e-business software was fraught with
 massive technical problems and the billion dollars in savings achieved in 2000
 was not due to the use of Oracle's software, but rather to the termination of
 over 2000 employees (the majority of whom were within Oracle's service
 department).  Furthermore, it is alleged that Ellison sold almost $900 million
 worth of his own shares at artificially inflated prices during Class Period.
 On March 1, 2001, Oracle revealed that revenue and earnings per share would
 decline in the third quarter.  The next day, on record trading volume, the
 stock price for Oracle dropped to $16.88 per share, over 50% from its Class
 Period high of $35.00 per share.
     Plaintiff seeks to recover damages on behalf of all Class members.  If you
 purchased common stock or call options in Oracle between December 15, 2000 and
 March 1, 2001, and wish to act as a lead plaintiff, you may move the Court to
 act in that capacity not later than May 8, 2001.  If you wish to discuss your
 rights as lead plaintiff or as a class member, please contact Schatz & Nobel,
 P.C. toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com.
 
 SOURCE  Schatz & Nobel, P.C.