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Oracle CEO coughs up $122 Million

By Justin Mann

On November 22, 2005, 6:47 PM

To settle an ongoing legal dispute involving insider tarding, Larry Ellison of Oracle is going to pay $100 Million to various charities and $22 Million to attornies, in lieu of having the case move forward. In 2001, Mr. Ellison quickly earned nearly a billion dollars in stock sales very shortly before the stock fell a very large amount, bringing suspicion to the deal and attention onto himself. He has denied doing anything wrong, but has agreed to pay the money. With a net worth of over $18 Billion, he won't be hurting any, but $122 Million is no small chunk of change.

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