The Justice Department has sued Oracle (ORCL) alleging the company failed to disclose available discounts and over-charged the federal government� by tens of millions of dollars, the Wall Street Journal reports.
The suit, filed in the U.S. District Court for the Eastern District of Virginia, charges that Oracle provided discounts to its “most favored customers” that should have been applied to government agencies under an agreement Oracle has with the General Services Administration. The story notes that under federal regulations, the GSA is required to obtain the best price a contractor provides.
Oracle declined to comment.
ORCL is down 16 cents, or 0.7%, to $23.02.
No comments:
Post a Comment