Larry Ellison gives up $575M to settle Pillar case

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http://www.bloomberg.com/news/2013-10-03/oracle-s-ellison-forgoes-payout-to-settle-pillar-buyout-suit.html

Oracle’s(s orcl) purchase Pillar Data in 2011 raised eyebrows because Oracle CEO Larry Ellison owned 55 percent of the acquired company. Now, to settle a claim that the deal shortchanged Pillar shareholders, Ellison has agreed to forgo most (95 percent) of that earn-out which could have been up to $575 million based on PIllar’s performance.

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