Oracle directors give blessing to shareholder lawsuit against Larry Ellison and Safra Catz

Three years after closing a $9.3 billion deal to acquire NetSuite, several Oracle board members have written an extraordinary letter to the Delaware Court, approving a shareholder lawsuit against company executives Larry Ellison and Safra Catz over the 2016 deal. According to Reuters' Alison Frankel, three board members, including former U.S. Defense Secretary Leon Panetta, sent a letter on August 15th to Sam Glasscock III, vice chancellor for the Court of the Chancery in Georgetown, Delaware, approving the suit as members of a special board of directors entity known as the Special Litigation Committee.