San Diego, CA -- (SBWIRE) -- 07/26/2016 -- The Shareholders Foundation announced that a deadline is coming up on August 1, 2016 in the lawsuit filed for certain investors of Oracle Corporation (NYSE:ORCL )over alleged securities laws violations by Oracle.

Investors who purchased shares of Oracle Corporation (NYSE:ORCL) have certain options and there are strict and short deadlines running. Deadline: August 1, 2016. NYSE:ORCL stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

According to the complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges on behalf of certain purchasers of Oracle Corporation (NYSE:ORCL) common shares, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Defendants made false and/or misleading statements and/or failed to disclose that Oracle Corporation used improper accounting practices to inflate the Company's cloud computing revenues by millions of dollars, that in violation of the Sarbanes-Oxley Act of 2002 (the "Sarbanes-Oxley Act") and the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"), Oracle had terminated a Senior Finance Manager for raising the Company's improper accounting practices to the attention of her supervisors, and that as a result of the foregoing, Oracle's public statements were materially false and misleading at all relevant times.

On June 1, 2016, after the market closed, media outlets reported that a former Senior Finance Manager at Oracle Corporation, Svetlana Blackburn ("Blackburn"), had sued Oracle Corporation for terminating her for complaining about improper accounting practices in Oracle Corporation's cloud services business. In a complaint filed in U.S. District Court for the Northern District of California, Blackburn accused Oracle's upper management of trying to push her to "fit square data into round holes" to make Oracle Cloud Services' results look better. Blackburn's lawsuit accused Oracle of violating the anti-retaliation provisions of the Sarbanes-Oxley Act and the Dodd-Frank Act and alleged that Blackburn was terminated on October 15, 2015, just one month after the alleged wrongdoing began, and two months after she received a positive performance review.

On July 25, 2016, NYSE:ORCL shares closed at $41.16 per share.

Those who purchased shares of Oracle Corporation have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com