Oracle (Nasdaq: ORCL) fell 2 5/8 to 81 5/16 following a court decision finding the company wrongfully terminated a former executive for whistle-blowing.
A San Francisco Superior Court jury last week awarded $2.66 million to Sandy Baratta, formerly vice president of global alliances for Oracle. The jury determined Baratta had been wrongfully fired for questioning whether Oracle had misappropriated trade secrets by unlawfully accessing German software competitor SAP’s R/3 software.
The ruling was the latest piece of negative publicity for the Redwood Shores, California-based software company. Two other former executives have also recently filed suits alleging they were wrongfully terminated. The company acknowledged earlier this summer that it had private detectives investigate supporters of its competitor, Microsoft Corp.