System News for Sun Users - The Blog

Oracle to “Vigorously Oppose” the Ruling

The European Commission issued a Statement of Objections on November 9th opposing Sun’s acquisition by Oracle. According to a Securities and Exchange Commission filing from Sun, the open-source MySQL database software is the sole issue of concern in the matter. In response, Oracle issued a statement saying the objection “reveals a profound misunderstanding of both database competition and open-source dynamics” and the company “plans to vigorously oppose the Commission’s Statement of Objections as the evidence against the Commission’s position is overwhelming.”

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Initial Quarter Narrows Losses From Last Year’s Numbers

Sun reported results for its first quarter of fiscal 2010, which ended September 27, 2009, in a Securities and Exchange Commission filing November 6th. The company narrowed its first-quarter loss to $120 million, or 16 cents a share, from $1.68 billion, or $2.24 a share, in the year-ago period. Lower operating expenses helped Sun curb its fiscal first quarter loss, Reuters reported.

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Stockholders’ Meeting Set for December 17th

Sun has publicly released proxy materials for its 2009 Annual Meeting of Stockholders, which is set for December 17, 2009, at 10:00 a.m. (PT) on Sun’s Santa Clara Campus in Calif. If the proposed merger with Oracle is completed prior to this date, Sun will no longer have public stockholders and, therefore, the 2009 Annual Meeting of Stockholders will be canceled. Financial results for Sun’s first quarter fiscal year 2010 are expected to be posted on the company’s Investor Relations page upon the filing of the Company’s Form 10-Q with the Securities and Exchange Commission (SEC), which is due no later than November 6, 2009.

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