Ryan & Maniskas, LLP Announces Investigation of the Acquisition of Phase Forward Incorporated by Oracle Corp.

Ryan & Maniskas, LLP commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors of Phase Forward Incorporated (“Phase Forward” or the “Company”) (NASDAQ: PFWD) in connection with their actions in causing Phase Forward to enter into a merger agreement with Oracle Corp. (“Oracle”) (NASDAQ: ORCL).

Under the terms of proposed agreement, Oracle will pay Phase Forward shareholders $17.00 per share for each share of Phase Forward common stock outstanding. Our investigation concerns whether the deal undervalues Phase Forward shareholders and also concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by Company’s board of directors.

If you own shares of Phase Forward and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free: (877) 316-3218 or visit: www.rmclasslaw.com/cases/phaseforward. You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan and Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder class, derivative and ERISA actions in state and federal courts nationwide.

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