GSI Investor Sues Over $2.4B EBay Deal

Law360, New York (March 30, 2011, 1:41 PM EDT) -- A GSI Commerce Inc. shareholder filed a putative class action Tuesday in Delaware claiming eBay Inc.'s $2.4 billion bid for the marketing company enriches GSI Chairman and CEO Michael G. Rubin at investors' expense.

The proposed class action, lodged by the Southeastern Pennsylvania Transportation Authority in the Court of Chancery of the State of Delaware, names Rubin as an individual defendant along with the rest of King of Prussia, Pa.-based GSI Commerce's 11-member board.

The companies said March 28 that the cash-and-debt deal is expected to...
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