PeopleSoft may have backed down from legal action against Oracle, but JD Edwards closed off a tumultuous week by filing two lawsuits against Oracle on Thursday seeking damages and an order that will block Oracle's bid for PeopleSoft.
JD Edwards filed suit in a Colorado state court claiming Oracle "tortiously interfered" with its proposed merger with PeopleSoft. Thecompany is seeking $1.7 billion in compensatory damages and an unspecified amount in punitive damages.
A second lawsuit by JD Edwards was filed in a California state court against Oracle and two of its executives: Chairman and Chief Executive Officer Larry Ellison and Executive Vice President Chuck Phillips, formerly an analyst with Morgan Stanely. JD Edwards alleges they engaged in wrongful conduct and unfair business practices and seeks an order to block Oracle's hostile bid for PeopleSoft.
JD Edwards believes Oracle's sole aim is to disrupt PeopleSoft's acquisition of J.D. Edwards and thereby "destroy value" for those companies' shareholders, customers and employees and the IT community overall. "We will not sit by idly while Oracle pursues this arrogant, unlawful and destructive course of action," said Bob Dutkowsky, CEO of JD Edwards.