Sun Microsystems Inc. shareholders filed three separate lawsuits last month in an effort to halt the company’s pending sale to Oracle Corp., according to a filing Sun made today with the U.S. Securities and Exchange Commission.

The suits, filed in Superior Court in Santa Clara County, Calif. name Sun, some of its officials and Oracle as defendants, according to the filing.

All three actions are aimed at blocking the $7.4 billion sale, alleging the price tag is “unfair and inadequate.” They also 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. Click here for the rest of the article.

This entry was posted on Sunday, May 10th, 2009 at 9:43 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.