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Oracle's Larry Ellison Can Win Lawsuit Even If He Loses

  • Investor suit says Oracle overpaid for NetSuite by $3 billion
  • Oracle chairman had 47% stake in NetSuite at time of deal
Larry Ellison
Larry EllisonPhotographer: David Paul Morris/Bloomberg
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Oracle Corp. Chairman Larry Ellison testified in a lawsuit on Wednesday that he didn’t call the shots at the company he co-founded and in which he holds a 40% stake and was not involved in discussing the acquisition at the center of the dispute.

The investor suit, brought in a Delaware court by a pension fund, accuses the 8th-richest American and others at Oracle of overpaying by $3 billion for rival software maker NetSuite Inc. in 2016. Ellison owned 47% of NetSuite at the time of the $9.3 billion deal and held about 28% of Oracle’s shares.