Judge Rejects $100 Million Settlement For Oracle’s Ellison, Questions Legal Fees

Law360, New York (October 5, 2005, 12:00 AM EDT) -- A federal judge has rejected Oracle's $100 million settlement over alleged insider trading, questioning why Oracle’s shareholders should be left to pay $24 million in legal fees for CEO Larry Ellison.

The rejection puts on hold an agreement reached between Ellison and software maker’s shareholders, which would have settled the case and required Ellison to donate $100 million to charities over the course of five years.

The settlement would have ended litigation that began after a $900 million stock sale by Ellison in January 2001, which...
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