Featured Articles

IDC says PC market is rebounding

IDC says PC market is rebounding

Research firm IDC has published its latest report into the state of the PC market and while there are some signs…

More...
TSMC steps up development of 10nm process

TSMC steps up development of 10nm process

TSMC, the world’s biggest chip foundry for hire, has reportedly stepped up development of its 10nm manufacturing process.

More...
Broadwell 14nm desktop comes late in Q2 2015

Broadwell 14nm desktop comes late in Q2 2015

A while ago we mentioned that Broadwell won’t show up in the desktop space this year and we got it right.…

More...
AMD A8-7600 Kaveri APU reviewed

AMD A8-7600 Kaveri APU reviewed

Today we'll take a closer look at AMD's A8-7600 APU Kaveri APU, more specifically we'll examine the GPU performance you can…

More...
EVGA GTX 780 Classified reviewed

EVGA GTX 780 Classified reviewed

The EVGA GTX 780 Classified has been dethroned as the company’s fastest non-Titan card following the introduction of the GTX 780…

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