From CNET News:
Oracle deliberately destroyed or withheld CEO Larry Ellison’s e-mails and failed to preserve audio recordings sought as evidence in a class-action lawsuit filed against the software maker, a federal judge has ruled.
Oracle CEO Larry Ellison
(Credit: Dan Farber/CNET News)
U.S. District Judge Susan Illston in San Francisco said Tuesday that Oracle willfully withheld tapes and transcripts of interviews that a journalist conducted with Ellison in 2001 and 2002 while researching a book about the Oracle founder called Softwar. The recordings and transcripts were stored on laptop by the author, Matthew Symonds, who directed a computer repair shop to destroy the laptop in late 2006 or early 2007, Illston said.
The lawsuit alleges the software giant made false statements about the company’s financial condition in the second quarter of 2001 and made false statements about its Suite 11i business management software. The suit, filed by shareholders who held the stock when its price fell after the company reported disappointing results, also claims Ellison knew about the problems and sold about $900 million in stock before investors were told of the problems.
Hat tip to Barbara Beauchamp for this post.
Here is the full text of Judge Illston’s Order.