Oracle faces whistleblower lawsuit over cloud accounting

Thursday 2 June 2016 | 10:20 CET | News
A former senior finance manager at Oracle has sued the company, claiming she was fired in retaliation for complaining about improper accounting practices in Oracle's cloud services business. In a complaint filed in US District Court in San Francisco, the former executive, Svetlana Blackburn, accused upper management of trying to push her to "fit square data into round holes" in order to make Oracle Cloud Services' results look better, Reuters reports. Oracle spokeswoman Deborah Hellinger said the company doesn't agree with the allegations and intends to "vigorously defend the matter".

Blackburn said her bosses instructed her to add millions of dollars of accruals for expected business "with no concrete or foreseeable billing to support the numbers," and said executives above her added accruals on their own. Blackburn said Oracle terminated her employment on 15 October last year, a month after the alleged wrongdoing began and two months after she received a positive performance review. Blackburn's lawsuit also accused Oracle of violating the anti-retaliation provisions of the federal Sarbanes-Oxley corporate governance and Dodd-Frank financial-reform laws. It seeks punitive damages, double back pay and other remedies.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

::: add a comment