August 13, 2003
Continuing its fight on all fronts against Oracle's hostile takeover bid, PeopleSoft Inc. has filed an amendment to its lawsuit against Oracle.
According to a statement released late yesterday, PeopleSoft says the amendment alleges new information that Oracle is deliberately misleading customers about its plans to support PeopleSoft products. In addition, the complaint incorporates claims of interference with customers of J.D. Edwards & Co., now part of PeopleSoft. The amendment has been added to the original complaint, filed in June in California Superior Court in Alameda County, Calif., which alleges that Oracle has engaged in unfair business practices, trade libel, and interference with PeopleSoft's customer relationships. The suit seeks $1.7 billion in compensatory damages and an unspecified amount in punitive damages. PeopleSoft has consolidated J.D. Edwards & Co.'s suits against Oracle into a single lawsuit, and will voluntarily dismiss J.D. Edwards lawsuits filed in other courts. In a statement released late last night, Oracle spokesman Jim Finn said the company had no comment on the amendment. He added that Oracle was aware that PeopleSoft was going to file the amended complaint, but that it doesn't change Oracle's commitment to acquire PeopleSoft. Oracle recently upped its bid to $7.5 billion from $6.3 billion and extended its takeover bid to midnight eastern time Sept. 19. Although Oracle isn't increasing its per-share bid price, its total purchase offer is increasing to account for an additional 53 million shares of PeopleSoft stock being issued as part of that vendor's recent $1.8 billion acquisition of J.D. Edwards.
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