Shares of Oracle Sliding Thursday on Cloud Accounting Lawsuit

Shares of Oracle (ORCL) - Get Report are sliding after the company was hit by a lawsuit.  A former employee has sued the company for allegedly firing her for complaining about improper accounting practices in its cloud business, according to Reuters. The former employee, a senior finance manager, claims her superiors told her to add millions of dollars of accruals for future business, without any billing to support the numbers. She also claims executives were also adding to their own accruals. Oracle says it doesn't agree with the allegations and plans to vigorously defend the matter.