According to 2FA: Oracle Wants to 'Have One's Cake and Eat It Too!'

MANHATTAN, N.Y., Jan. 4, 2011 /PRNewswire/ -- Oracle is being sued by 2FA Technology for: Breach of Contract, Misappropriation, Criminal Possession of Stolen Property in the First Degree, Unfair Competition, Conversion, Trespass to Chattels, Unjust Enrichment/Restitution, Civil Conspiracy, Aiding and Abetting, and An Accounting.

The case (1:2010cv09648), filed December 29, 2010 in Federal Court, alleges a corporate conspiracy on a grand scale between Oracle Corporation and Passlogix, a recent Oracle acquisition, to steal and benefit financially from 2FA's intellectual property.

Previous coverage of the complaint can be viewed on Courthouse News Service at http://www.courthousenews.com/2011/01/03/33006.htm. The complete complaint can be viewed at http://www.2FA.com/ORCLSuit/10-civ-9648-SDNY-2FA-Complaint.pdf.

2FA has attempted to resolve this matter directly with Oracle for well over a year. To date, Oracle has focused on 2FA's damages for lost profits as opposed to damages for the fair market value of 2FA's software. Oracle recently argued and won a landmark case where Oracle demanded they were entitled to damages based upon the fair market value of their software: http://www.2fa.com/ORCLSuit/Special_Verdict_Form.pdf.  

"They stole the software, now they don't want to pay for it. They took over 10,000,000, $40 watches and hocked them for $1. Now they want to pay us $1. Taking just $10 million from Oracle is a reward for their bad behavior, frankly. I think taking our intellectual property is a two-edged sword.  For Oracle, it means they have access to all our engineering output. The other side of that sword is running an irrational risk by taking our software. That's a risk I certainly would never, ever undertake," said Greg Salyards, 2FA Technology's President and CEO, using Mrs. Safra Catz's and Mr. Larry Ellison's previous quotes.

Contact:  Bonny Green, 512-918-3200

SOURCE 2FA Technology