Oracle to pay $199.5 million to resolve false claims case

Reuters News
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Posted: Oct 06, 2011 4:28 PM
Oracle to pay $199.5 million to resolve false claims case

WASHINGTON (Reuters) - Oracle Corp <ORCL.O> has agreed to pay $199.5 million plus interest to settle allegations that the software giant failed to give promised discounts to the federal government, the U.S. Justice Department said on Thursday.

The company was also accused of making false statements about its sales practices and discounts and failing to meet its contract obligations to provide complete information about its sales practices, the Justice Department said.

(Reporting by Jeremy Pelofsky in Washington, editing by Carol Bishopric)