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Video Apple's new iPhone will use bigger display Samsung sees smartphones leading Africa growth Follow Reuters Facebook Twitter RSS YouTube Read Marine sergeant faces discipline for Facebook critique of Obama 22 Mar 2012 Fed officials clash on view of economy 22 Mar 2012 Kroger joins rival grocers in rejecting "pink slime" beef 22 Mar 2012 Apple's new iPhone will use bigger 4.6-inch display: report 21 Mar 2012 Madonna vows to defy anti-gay law on Russian tour 22 Mar 2012 Discussed 195 Dozens arrested at Occupy’s 6-month anniversary rally 158 Republican budget plan seeks to play up tax reform 130 Bernanke says gold standard wouldn’t solve problems Watched Artworks preview in LA prior to sale Thu, Mar 22 2012 Amateur video shows police assault on Toulouse suspect's home Wed, Mar 21 2012 Rhino calf moves into public spotlight Thu, Mar 22 2012 Oracle investor sues over $200 million settlement Tweet Share this Email Print Related News Morgan Stanley directors win pay lawsuit dismissal Thu, Mar 22 2012 NY Mets owners settle Madoff case, avoid trial Mon, Mar 19 2012 Analysts worry that something's amiss at Oracle Fri, Mar 16 2012 JPMorgan paying $45 million to settle mortgage suit Tue, Mar 13 2012 Government details mortgage pact, promises tough oversight Mon, Mar 12 2012 Analysis & Opinion Can MBS investors block national mortgage deal via litigation? In powerful Citi ruling, 2nd Circuit stresses deference to SEC Related Topics Tech » A sign is shown at the headquarters of Oracle Corporation in Redwood City, California February 2, 2010. Picture taken February 2, 2010. Credit: Reuters/Robert Galbraith By Jessica Dye NEW YORK | Thu Mar 22, 2012 9:08pm EDT NEW YORK (Reuters) - An Oracle Corp. investor sued the company and members of its board of directors on Thursday for allegedly trying to "stonewall" a whistleblower lawsuit that ultimately resulted in a $200 million settlement. The lawsuit filed by investor Jordan Weinrib in Delaware state court said the defendants, including Oracle CEO Lawrence Ellison and other past and present members of the company's board of directors, breached their duty to shareholders by engaging in prolonged litigation over the whistleblower's allegations, which the defendants allegedly knew to be true. "The board forced the government to expend additional resources litigating the action when the board knew the company was in a significant liability position and that additional litigation would certainly raise the ultimate price of settlement," Weinrib said in the complaint. The settlement in question was the result of a whistleblower lawsuit filed in 2007 by Oracle's former senior director of contract services, Paul Frascella, who accused the company of violating price-reduction clauses in federal contracts covering $775 million in goods, extending discounts to commercial clients without doing the same for government buyers. The U.S. Department of Justice intervened in the lawsuit in 2010. In 2011, Oracle paid more than $200 million to settle the lawsuit, including interest and payments for the whistleblower, the largest of its kind under the federal False Claims Act. "Despite substantial evidence of wrongdoing, Oracle's board of directors did not admit that these acts had occurred, enact remedial measures and negotiate a resolution that involved a small payment," Weinrib said in the complaint. Instead, by litigating the case, Oracle drove up the ultimate settlement price, harming taxpayers and shareholders alike, Weinrib said. Weinrib is seeking an unspecified amount in damages on behalf of shareholders. A spokesman for Oracle did not immediately return a request for comment Thursday. The case is Weinrib v. Ellison, in Delaware Chancery Court, no. 7350. (Reporting by Jessica Dye; Editing by Matt Driskill) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. 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