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Oracle Accused of Defrauding Investors On Cloud Sales Growth (bloomberg.com)
An anonymous reader quotes a report from Bloomberg: Oracle is named in a lawsuit alleging the company's executives lied to shareholders when they explained why cloud sales were growing. The investor leading the case, the City of Sunrise Firefighters' Pension Fund, claimed Oracle engaged in coercion and threats to sell its cloud-computing products, creating an unsustainable model that fell apart, according to the suit seeking class-action status and filed Friday in San Jose, California. The Florida-based firefighter pension fund and other investors lost money when Oracle's stock plummeted in March after reporting a disappointing earnings report and outlook, according to the lawsuit.
The suit claimed that Oracle's executives lied in forward-looking statements, which are never guaranteed, during earnings calls and at investor conferences in 2017 when they said customers were rapidly adopting their cloud-based products and cloud sales would accelerate. The firefighter pension, which manages about $143 million for 235 participants, alleged that Oracle used software license audits and weakened existing maintenance programs to compel customers to buy the cloud products.
The suit claimed that Oracle's executives lied in forward-looking statements, which are never guaranteed, during earnings calls and at investor conferences in 2017 when they said customers were rapidly adopting their cloud-based products and cloud sales would accelerate. The firefighter pension, which manages about $143 million for 235 participants, alleged that Oracle used software license audits and weakened existing maintenance programs to compel customers to buy the cloud products.
Unfortunately there are no other choices besides Microsoft and Amazon's cloud DynoDB.
There's your first mistake.
No geeks Mysql is not the same thing nor close...
The thought of using MySQL for anything even remotely important should be enough to get someone fired and/or prosecuted.
...so don't bother bringing that up as these large customers use financial and AI reporting tools and APIs and not just simple SQL statements.
What do you think these reporting tools are sending to the database, if not SQL?
You’re bringing back nightmares. I remember dealing with MySQL back 1999 when the company I worked for tried to migrate to MySQL to save money. The horrors. Plus, MySQL is own by Oracle now. So it’s like going from the Oracle’s left pocket to Oracle’s smelly feet.