{"id":29338,"date":"2014-08-25T07:47:14","date_gmt":"2014-08-25T11:47:14","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=29338"},"modified":"2014-08-25T07:47:14","modified_gmt":"2014-08-25T11:47:14","slug":"oregon-files-2-billion-lawsuit-against-oracle-corporation-nyseorcl","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/oregon-files-2-billion-lawsuit-against-oracle-corporation-nyseorcl-29338","title":{"rendered":"Oregon Files $2 Billion Lawsuit Against Oracle Corporation (NYSE:ORCL)"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 08\/25\/2014 (wallstreetpr) \u2013\u00a0The State of Oregon had taken enterprises software provider <strong>Oracle Corporation (NYSE:ORCL)<\/strong> to task by dragging the company to a court of law to seek penalties of over $2 billion for fraud and racketeering. The suit followed after the company dragged the State to Court seeking payment for unpaid bills.<\/p>\n<p style=\"text-align: justify;\"><strong>Oregon Files Suit<\/strong><\/p>\n<p style=\"text-align: justify;\">The State of Oregon had charged Oracle of tricking the State into signing the contracts for products worth about $240 million, including services and developing of a health-care exchange, which had never worked. Therefore, the State had decided to take the matter to the Court and sought $2 billion damage apart from the repayment of $240 million, <a href=\"http:\/\/www.bloomberg.com\/news\/2014-08-22\/oregon-sues-oracle-executives-over-health-care-website-1-.html?cmpid=yhoo\">Bloomberg<\/a> reported.<\/p>\n<p style=\"text-align: justify;\">Oregon had filed the case against Oracle Corporation (NYSE:ORCL)\u00a0and five of its senior executives fourteen days after Oracle preferred to take Oregon\u2019s $23 million unsettled bills to the court even as the blame game were raging over a botched website. The State included the company\u2019s President and Chief Financial Officer, Safra Catz also as one among the five executives.<\/p>\n<p style=\"text-align: justify;\">Democrat John Kitzhaber, the Governor of Oregon, had advised the State Attorney General a few months back to initiate legal action against the enterprise software provider to recover the payments.<\/p>\n<p style=\"text-align: justify;\"><strong>Who Is To Blame<\/strong><\/p>\n<p style=\"text-align: justify;\">The State of Oregon had hired Oracle Corporation (NYSE:ORCL) in 2011 to establish an insurance exchange apart from modernizing its social-service computer systems. The company had not only missed deadlines but had also reportedly done a sloppy programming work. On top of it, the company had hid the products and recommended for the project, which did not work. This had forced the authorities to use custom-made software.<\/p>\n<p style=\"text-align: justify;\">The consumers were also forced to file applications after a technical flaw in the site\u2019s \u2018Cover Oregon\u2019 till Oregon had given up its hope in April and advised enrollees to the federal website.<\/p>\n<p style=\"text-align: justify;\"><strong>Oracle Response<\/strong><\/p>\n<p style=\"text-align: justify;\">The company termed the action of the State as a desperate attempt to shift the blame from Cover Oregon and the failures of the governor to cope with a complex IT project, Bloomberg said citing Oracle\u2019s email statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 08\/25\/2014 (wallstreetpr) \u2013\u00a0The State of Oregon had taken enterprises software provider Oracle Corporation (NYSE:ORCL) to task by dragging the company to a court [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":19595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[2948,2947],"stock_ticker":[],"class_list":["post-29338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nyseorcl","tag-oracle-corporation-nyseorcl","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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