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Siebel Systems Inc

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BUSINESS
April 5, 2003 | From Bloomberg News
Siebel Systems Inc., a San Mateo, Calif., maker of customer service software, said first-quarter net income fell as much as 95% because some customers failed to sign contracts. Net income slid to $3 million to $5 million, from $64.6 million a year earlier, Siebel said, based on a preliminary review. Revenue was $330 million to $335 million, down from $477.9 million. Siebel shares fell 41 cents to $7.75 on Nasdaq. Trading was halted ahead of the report.
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BUSINESS
November 22, 2006
Siebel Systems Inc., which in January was bought by Oracle Corp. of Redwood Shores, Calif., has agreed to pay as much as $27.5 million to settle claims that the firm failed to give 800 of its software engineers overtime pay.
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BUSINESS
November 22, 2006
Siebel Systems Inc., which in January was bought by Oracle Corp. of Redwood Shores, Calif., has agreed to pay as much as $27.5 million to settle claims that the firm failed to give 800 of its software engineers overtime pay.
BUSINESS
February 10, 2006 | From Associated Press
Business software maker Oracle Corp. said Thursday that it would cut about 2,000 jobs, or more than 3% of its workforce, after its recent $5.85-billion takeover of Siebel Systems Inc. Redwood Shores, Calif.-based Oracle inherited 4,700 Siebel workers in the acquisition, but most of the cuts will be concentrated among employees on the company payroll before the deal closed last week, Chief Executive Larry Ellison told analysts during a conference call.
BUSINESS
July 18, 2000 | Bloomberg News
Toys R Us Inc.'s Internet unit said it formed a partnership with software companies I2 Technologies Inc. and Siebel Systems Inc. to improve the way Toysrus.com fills orders and responds to customers. Financial terms weren't disclosed.
BUSINESS
February 9, 2006 | From Associated Press
Business software maker Oracle Corp. is expected to announce more than 1,000 job cuts today as it outlines plans to absorb rival Siebel Systems Inc. A person familiar with the plans said the cuts would be revealed during an afternoon conference call with industry analysts. They have been widely anticipated since Redwood Shores, Calif.-based Oracle announced the $5.85-billion acquisition five months ago.
BUSINESS
December 30, 2005 | From Bloomberg News
A judge has dismissed a class-action lawsuit against Siebel Systems Inc., saying investors failed to establish that the company misled them before it disclosed that its Siebel 7 software wasn't selling as well as expected. Shareholders sued San Mateo, Calif.-based Siebel, which makes customer-service software, in federal court in San Francisco more than a year after the July 2002 announcement that sent shares down 21%.
BUSINESS
November 14, 2003 | From Bloomberg News
Siebel Systems Inc., the first company to pay a fine to settle accusations that it selectively disclosed market-moving information, said it might face a second charge by the Securities and Exchange Commission. SEC staff recommended that the agency take enforcement action against San Mateo, Calif.-based Siebel and two executives for giving some analysts and investors information at a private dinner April 30, Siebel said in an SEC filing. The shares rose 7.9% on May 1.
BUSINESS
July 11, 2003 | From Reuters
A judge has cleared the way for punitive damages against Siebel Systems Inc.'s Chief Executive Tom Siebel and members of the company's board if they are found liable for overpaying Siebel through undisclosed stock option grants. San Mateo County Superior Court Judge Quentin Kopp cleared the way for the Teachers Retirement System of Louisiana to continue to pursue its lawsuit against the San Mateo-based software maker and to seek punitive damages if it prevails.
BUSINESS
August 8, 2000 | Bloomberg News
Siebel Systems Inc., the top maker of software for managing customer relations, said it agreed to buy OnLink Technologies Inc. for $609 million in stock to add products that let companies serve customers online. Siebel agreed to exchange up to 3.71 million shares for closely held OnLink Technologies, based in Redwood City, Calif. San Mateo, Calif.-based Siebel also announced a 2-for-1 stock split, effective Sept. 8. Siebel shares closed up 56 cents at $164.
BUSINESS
February 9, 2006 | From Associated Press
Business software maker Oracle Corp. is expected to announce more than 1,000 job cuts today as it outlines plans to absorb rival Siebel Systems Inc. A person familiar with the plans said the cuts would be revealed during an afternoon conference call with industry analysts. They have been widely anticipated since Redwood Shores, Calif.-based Oracle announced the $5.85-billion acquisition five months ago.
BUSINESS
December 30, 2005 | From Bloomberg News
A judge has dismissed a class-action lawsuit against Siebel Systems Inc., saying investors failed to establish that the company misled them before it disclosed that its Siebel 7 software wasn't selling as well as expected. Shareholders sued San Mateo, Calif.-based Siebel, which makes customer-service software, in federal court in San Francisco more than a year after the July 2002 announcement that sent shares down 21%.
BUSINESS
December 23, 2005 | From Bloomberg News
Oracle Corp., the world's third-largest maker of software, cleared the last hurdle in its $5.85-billion takeover of Siebel Systems Inc. by winning approval from European Union regulators. The U.S. Justice Department approved the deal last month. Chief Executive Larry Ellison is counting on Siebel, the world's No. 2 maker of customer service software, to help expand Oracle's applications sales. Ellison has spent more than $18 billion to buy 11 companies this year, including Siebel.
BUSINESS
September 2, 2005 | From Associated Press
A federal judge Thursday dismissed the Securities and Exchange Commission's lawsuit against Siebel Systems Inc., which had been accused of violating the federal "fair disclosure" regulation after its chief financial officer opined on the company's performance at two private events.
BUSINESS
June 9, 2005 | From Associated Press
Troubled business software maker Siebel Systems Inc. said Wednesday that it would begin paying a quarterly dividend in an effort to placate disgruntled shareholders who want the company to either stop hoarding its cash or sell itself. Chief Executive George Shaheen, who took over at Siebel two months ago in an abrupt shake-up, announced the 2.5-cents-a-share quarterly dividend before the San Mateo, Calif., company's annual meeting.
BUSINESS
June 7, 2005 | From Bloomberg News
Two Siebel Systems Inc. investors, Jana Partners and Providence Capital Inc., plan to withhold votes for Chairman Tom Siebel and two other directors at the annual meeting Wednesday to pressure the company to distribute cash to shareholders or consider a sale. "If things remain the same and they continue to ignore shareholders, they will be on the wrong end of a proxy vote," said Barry Rosenstein, manager of Jana, a hedge fund that is Siebel's No. 6 shareholder.
BUSINESS
July 23, 2003 | From Associated Press
Business software maker Siebel Systems Inc. said it would shed an additional 490 workers to boost sagging profit. The planned cuts represent 9% of Siebel's 5,500 employees. As part of its overhaul, Siebel said it would close offices and shift some operations outside the U.S. With the latest purge, Siebel will have cut 2,400 employees, or nearly one-third of its workforce, since the end of 2001. For the second quarter, San Mateo, Calif.-based Siebel reported earnings of $9.
BUSINESS
April 14, 2005 | From Associated Press
Siebel Systems Inc. ousted J. Michael Lawrie as its chief executive on Wednesday, coming off a disappointing quarter that raised questions about his ability to turn around the business software maker. Lawrie resigned at the request of Siebel Systems' board, which concluded he hadn't made adequate progress since becoming chief executive last May, said Tom Siebel, chairman and founder of the San Mateo, Calif.-based company.
BUSINESS
March 16, 2005 | From Bloomberg News
Siebel Systems Inc., in the first legal challenge to the government's fair-disclosure rule, said allegations that it gave market-moving information to selected investors should be dismissed because regulators have no enforcement authority. Attorneys for Siebel Systems, the world's largest maker of customer service software, were in U.S. District Court in New York on Tuesday to argue for dismissal of the accusations made by the Securities and Exchange Commission.
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