Month: January 2026

Securities Class Action Against Oracle, Major US Banks

Scott+Scott this week filed a securities class action against Oracle Corporation, the tech giant’s top executives as well as major U.S. banks, including BOFA Securities, Inc., Citigroup Global Markets, Inc., Goldman Sachs & Co., LLC,  and others. According to the complaint filed in the Supreme Court of the State of New York, the defendants failed to disclose to investors billions of dollars in additional debt related to the buildup of AI infrastructure and data centers. Defendants omitted the heightened credit risk factors and subsequent increased bond yields causing significant financial losses and damages to the plaintiffs.