Oracle co-founder Larry Ellison has called off a plan to sell up to $7.5 billion worth of the company's stock. Ellison announced on Monday that he had not sold any shares and has canceled a proposal to unload 50 million shares.
The move comes after the Oracle chairman and chief technology officer had filed paperwork to sell shares in recent weeks. The proposed sales were a fraction of his total holdings in the database software giant, but their cancellation removes a potential overhang for the stock.