Nursing Home Pension Fund v. Oracle Corp.

ORDER GRANTING DEFENDANT’S MOTION TO DISMISS

INTRODUCTION

Pursuant to Federal Rule of Civil Procedure (“Rule”) 12(b)(6), Defendants Oracle Corporation and Lawrence J. Ellison (collectively “Oracle”) move this Court to dismiss Plaintiffs’ First Amended Consolidated Complaint (“FACC”) for failure to state a claim upon which relief can be granted. Specifically, Oracle’s motion requires the Court to decide if Plaintiffs’ FACC meets the heightened pleading requirements of Rules 8(a)(2) and 9(b) as amplified by the Private Securities Litigation (“PSLRA”), Section 10(b) of the Securities Exchange Act, and Rule 10b-5 promulgated thereunder. After having carefully considered the papers, and arguments of counsel, and for the reasons set forth below, the Court finds that Plaintiffs’ FACC is deficient and fails to conform to the Rules 8(a)(2) and 9(b) and the heightened pleading requirements of the PSLRA.

BACKGROUND

This motion arises from a complaint alleging securities fraud in violation of Section 10(b) of the Securities Exchange Act, and Rule 10b-5 promulgated thereunder. The complaint is brought on behalf of a class of private and public investors who purchased Oracle stock between…