Featured Articles

Analysts expect ARM to do well next year

Analysts expect ARM to do well next year

British chip designer ARM could cash in on the mobile industry's rush to transition to 64-bit operating systems and hardware.

More...
Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Samsung has lost smartphone market share, ending the quarter on a low note and Xiaomi appears to be the big winner.

More...
Intel Broadwell 15W coming to CES

Intel Broadwell 15W coming to CES

It looks like Intel will be showing off its 14nm processors, codenames Broadwell, in a couple of weeks at CES 2015.

More...
Gainward GTX 980 Phantom reviewed

Gainward GTX 980 Phantom reviewed

Today we’ll be taking a closer look at the recently introduced Gainward GTX 980 4GB with the company’s trademark Phantom cooler.

More...
Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac has been in the nettop and mini-PC space for more than four years now and it has managed to carve…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 04 October 2013 07:41

Ellison backs down in conflict of interest case

Written by Nick Farrell

Not interested in $500 million

Oracle boss Larry Ellison has backed down in a conflict of interest court case over the 2011 acquisition by Oracle of a company he controlled. Ellison has agreed to give up a potential payout of around $500 million to end the case.

The settlement relates to Oracle's purchase of Pillar Data, a data storage company that was majority owned by Ellison. Oracle paid nothing to buy Pillar, instead agreeing to make future payments that would depend on the acquired company's performance through 2014.

Ellison would have received the first $562 million of any payment related to the acquisition. According to the settlement, whatever the payment ultimately is, Ellison must pay 95 percent of it to Oracle. The City of Roseville Employees’ Retirement System and the Southeastern Pennsylvania Transportation Authority launched the suit. They said the deal to buy Pillar was "tainted by conflicts of interest and was unfair to Oracle."

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments