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Oracle rejects $272M SAP award, wants new trial
Court Watch |
2012/02/07 10:08
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Database software maker Oracle is rejecting a court-ordered award for $272 million from German rival SAP, saying it would rather have another trial over SAP's theft of software and customer-support documents.
A jury awarded Oracle Corp. $1.3 billion in the case in November 2010, but a federal judge cut that amount last September. Oracle said then that it would seek a new trial.
In a Monday court filing, the Redwood City, Calif., company says it rejected the award.
SAP AG has admitted that a now-closed subsidiary, TomorrowNow, pilfered Oracle's intellectual property. Oracle argued that this helped SAP undercut Oracle for similar services. SAP said it didn't make much use of the documents and should have to pay only $40 million.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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