Oracle Deal In Shareholder Suit Heralds $20M Insurance Row

Law360, Wilmington (October 3, 2013, 6:24 PM EDT) -- The main parties in the Oracle Corp. shareholder lawsuit over the software giant's acquisition of Pillar Data Systems Inc. announced a proposed settlement late Wednesday, but the deal hinges on D&O insurer Beazley agreeing to cover $19.9 million in attorneys' fees for the plaintiffs, an idea it has rejected. 

Under the settlement terms, Oracle CEO Larry Ellison would agree to give 95 percent of any earnout payment from Pillar — which was acquired by Oracle in 2011 for no money up front in favor of potential...
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