Oracle Loses Court Appeal For JEDI Contract: Bloomberg

The U.S. Supreme Court rejected Oracle Corp's ORCL appeal challenging the now-scrapped $10 billion cloud-computing contract the Pentagon awarded to Microsoft Corp MSFT in 2019, Bloomberg reports.
Oracle challenged its exclusion from the cloud-computing deal, the Joint Enterprise Defense Infrastructure (JEDI).
Oracle's appeal focused on alleged conflicts of interest surrounding Amazon.com Inc AMZN and the Pentagon's violation of rules when it set up the contract to be awarded to a single firm.
The rejection was a formality given the Defense Department's decision to drop the contract and divide the work potentially between Microsoft and Amazon.
The court ruled that Oracle remained unaffected as it would not have qualified for a multiple-recipient award.
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Price Action: ORCL shares traded lower by 0.47% at $89.32 on the last check Monday.