Oracle to pay $98.5 million to settle PeopleSoft suit
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Manufacturing News, Source : The Manufacturer US
Published : 10 Oct 2006 21:47
Oracle Corp. has agreed to pay $98.5 million to settle a lawsuit over pricing disclosures made by PeopleSoft Inc. while negotiating a contract with the federal government, the Justice Department said Tuesday, according to a report by MarketWatch.
The settlement resolves allegations that PeopleSoft made pricing disclosures that were not current, accurate, and complete concerning the sale of software licenses and related services, the government said.
Oracle inherited the liability under the contract by which it acquired PeopleSoft in 2005. "Because PeopleSoft did not give GSA [General Services Administration] accurate pricing information, it negotiated higher prices for its products and services than it would have obtained if GSA had known the truth," said US Attorney Rod Rosenstein of the District of Maryland in a statement.
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