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Court Rules Ellison Must Donate $100M to Charity

Posted by CowboyNeal on from the forced-benevolence dept.

PokeyPenguin writes "As part of a settlement for insider trading allegations, a California judge has ordered that Larry Ellison donate $100 million to charity. CNet reports, 'The charity payments are an unusual way to settle such a case. Typically, settlement payments would go directly to the company, in this case Oracle. "But with Mr. Ellison owning a quarter of Oracle's stock, much of such a direct payment, in effect, would have gone to him."'"

3 of 191 comments (clear)

  1. In Other News: Ellison to Borrow Page From T-Rex by The+Amazing+Fish+Boy · · Score: 5, Funny

    http://qwantz.com/index.pl?comic=667

  2. At press time, charity unreachable by AEton · · Score: 5, Funny

    Representatives from Ellison's selected charity - the little-known 'Human Fund' - were unavailable for comment.

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    We recently had heard in the office over one of the Yellow Machine that's made by Anthology Solutions.
  3. No no no. The Bill & Melinda Gates Foundation by Genady · · Score: 5, Funny

    Ellison's lawyers filed an appeal under the 8th Amendment when it was revealed that Ellison would have to give the $100m to the Bill and Melinda Gates Foundation.

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    What if it is just turtles all the way down?