Oracle, DOJ Documents May Lose Seals

June 11, 2004

[From internetnews.com]

A federal Judge is expected to unseal corporate documents in a trial that could determine if Oracle (Quote, Chart) can proceed with its $7.7 billion takeover bid for PeopleSoft .

As part of a previous pre-trial agreement, only Oracle's legal team and the U.S. Department of Justice have been privy to several documents that contain detailed data on customers, competitive bids on contracts, pricing details, budgets and product information.

But at the start of the trial this week, District Court Judge Vaughn R. Walker noted that Oracle, the DoJ and some third parties have significantly "over-designated" documents as confidential without the proper procedure.

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