Featured Articles

Hands on: Nvidia Shield Tablet with Android 5.0

Hands on: Nvidia Shield Tablet with Android 5.0

We broke the news of Nvidia's ambitious gaming tablet plans back in May and now the Shield tablet got a bit…

More...
Nokia N1 Android tablet ships in Q1 2015

Nokia N1 Android tablet ships in Q1 2015

Nokia has announced its first Android tablet and when we say Nokia, we don’t mean Microsoft. The Nokia N1 was designed…

More...
Marvell launches octa-core 64-bit PXA1936

Marvell launches octa-core 64-bit PXA1936

Marvell is better known for its storage controllers, but the company doesn’t want to give up on the smartphone and…

More...
TSMC 16nm FinFET Plus in risk production

TSMC 16nm FinFET Plus in risk production

TSMC’s next generation 16nm process has reached an important milestone – 16nm FinFET Plus (16FF+) is now in risk production.

More...
Nvidia GTX 970 SLI tested

Nvidia GTX 970 SLI tested

Nvidia recently released two new graphics cards based on its latest Maxwell GPU architecture, with exceptional performance-per-watt. The Geforce GTX 970…

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