Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
In a filing with the Securities and Exchange commission, Sun disclosed that some of its shareholders have filed suits alleging that Oracle isn't paying enough to acquire Sun.
"Three putative shareholder class actions were filed by individual shareholders...naming Sun and certain of our officers and directors, as well as Oracle Corporation, as defendants," the filing reads.
"The complaints, which are similar, seek to enjoin the proposed acquisition of Sun by Oracle Corporation and allege claims for breach of fiduciary duty against the individual defendants and for aiding and abetting a breach of fiduciary duty against the corporate defendants. The complaints generally allege that the consideration offered in the proposed transaction is unfair and inadequate."
A year ago, Sun stock stood at around $16 per share, and the Oracle offer is worth $9.50 per share.
"Sun and the other defendants have not yet responded to the complaints," according to the SEC filing.
David Bass
| For the fourth year in a row, IDC has placed content security provider Websense (NASDAQ: WBSN) at the top of the IDC Worldwide Web Security 2011 –…
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