Oracle Corp. CEO Larry Ellison has agreed to donate $100 million to charities to settle a lawsuit revolving around a $900 million gain that he made by selling some of his company stock after the dot-com bust. Under the unusual agreement, Ellison -- one of the world's richest men -- will make the donations on behalf of Redwood Shores, Calif.-based Oracle during the next five months. In agreeing to settle the case, Ellison isn't admitting to any wrongdoing.
September 13, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.com
Oracle Corp. CEO Larry Ellison has agreed to donate $100 million to charities to settle a lawsuit revolving around a $900 million gain that he made by selling some of his company stock after the dot-com bust.
The settlement, confirmed Monday by an attorney who filed the suit, still requires the approval of County Superior Court Judge John Schwartz. A hearing was scheduled for Sept. 26.
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