PeopleSoft revises suit against Oracle

Barney Beal

In an ongoing effort to prevent a hostile takeover bid, PeopleSoft Inc. announced that it has filed an amendment to its lawsuit against rival Oracle Corp.

The amendment, filed in California Superior Court in Alameda County, alleges new facts about unfair trade practices, including Oracle's efforts to disrupt PeopleSoft's customer relationships. The amendment also provides new information about an alleged campaign by Oracle to mislead PeopleSoft's customers concerning its intentions to support PeopleSoft products. Claims of interference with customers of J.D. Edwards & Co., recently acquired by PeopleSoft, are also included.

The lawsuit seeks an injunction to prevent the possible takeover, as well as damages. Oracle officials declined comment, saying they had not seen the filing, but a news release reasserted the company's commitment to acquire PeopleSoft.

Last week, Oracle extended the deadline for PeopleSoft shareholders to tender their shares for the third time. The deadline was extended to Sept. 19. The offer still stands at $19.50 per share.

In early June, Oracle, based in Redwood Shores, Calif. launched the hostile takeover bid, an undertaking made more costly last month when PeopleSoft, Pleasanton, Calif., acquired J.D. Edwards for $1.8 billion.

A lawsuit previously filed by J.D. Edwards against Oracle will now be folded into the single PeopleSoft suit.


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