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Tom Siebel finds a new career as legal reformer
Having stopped just short of the top with Siebel Systems, the company's founder and former CEO Tom Siebel (pictured) is now taking a shot a legal reform.
Earlier this month, the California Supreme Court granted Tom Siebel the right to sue the lawyers from a past case against the billionaire. In July 2000 Siebel settle a suit from a disgruntled employee.
Cases like these are commonly settled to save the legal expenses and a potentially large monetary judgement and to prevent the case from distracting from everyday business. The terms of the settlement typically include a clause in which all parties waive the right to pursue any further claims.
In additional to claiming that the case was frivolous, Siebel charged that he should still be able to pursue legally the opposing lawyers – and the court agreed. Carol Middlestadt, currently a judge in San Mateo County, and Richard Buell violated ethical and legal rules in bringing the case to court, claims Siebel.
"This is a private effort at tort reform," Siebel said in a press release. "This ruling will make lawyers think twice before seeking to extort settlements from vulnerable targets by filing lawsuits they know are frivolous. Victims of frivolous litigation will now find it easier to have their day in court, bypassing what could potentially be years in the costly appeals process."
Siebel Systems pioneered customer relationship management (CRM) space after Oracle CEO Larry Ellison dismissed the idea. After a brief period of success, the company found out that there was limited demand for a stand alone CRM product. The market instead moved to suites of integrated CRM, ERP and other enterprise applications. Oracle scooped up Siebel Systems for $5.85bn in 2005.
Once hailed as a business pundit, Tom Siebel was then quickly exposed for allowing a bloated cost structure that contributed to the company running into the ground. Oracle had to manoeuvre its way out of expensive real estate leases and Siebel seem to have retreated to his estate in the millionaire's town of Woodsite in Silicon Valley (Larry Ellison lives around the block).
Salesforce.com is campaigning outside Siebel System's corporate headquarters, shortly after the acquisition by Oracle
July 28, 2007 at 01:35 AM | Permalink
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