Oracle-NetSuite Merger Lawsuit Pared Back by Delaware Judge

Shareholder litigation over the terms of Oracle Corp.'s merger with NetSuite Inc., another company controlled by Oracle founder Larry Ellison, was narrowed by a Delaware judge, who let a top executive and the widow of another company leader out of the case.

Vice Chancellor Sam Glasscock III dismissed derivative claims against Oracle executive vice chairman Jeffrey O. Henley and the widow of former president Mark V. Hurd, who died in 2019, from Delaware’s Chancery Court.

It’s “not reasonably conceivable” that Henley or Hurd “acted with gross negligence or disloyalty in furtherance of Ellison’s self-interest,” and Oracle’s charter shields them ...