Larry Ellison scraps $7.5 billion Oracle stock sale plan before any shares sold
Oracle founder Larry Ellison abruptly cancelled a pre-arranged plan to sell 50 million Oracle shares shortly after it was publicly disclosed. No shares were traded under the arrangement before it was withdrawn, and the plan had been set to expire later this year. The move draws attention to key differences between US and European regulatory frameworks governing stock sales by corporate executives. Oracle's share price has been under pressure recently, while the company is also grappling with rising job-cut related costs.
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