EBay-GSI Deal Set To Close After Shareholder Settlement

Law360, New York (June 13, 2011, 2:50 PM EDT) -- EBay Inc. and GSI Commerce Inc. on Monday settled a putative class action in Delaware alleging eBay's $2.4 billion acquisition of the online marketing company enriched GSI Chairman and CEO Michael G. Rubin at shareholders' expense.

The settlement will net GSI shareholders, led in the suit by the Southeastern Pennsylvania Transportation Authority, 33 cents a share, according to eBay. With the agreement now in place, the companies said the deal is expected to close Friday. The FTC approved the deal April 19.

“EBay and GSI have...
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