EBay Snubs Icahn's Call For PayPal Spinoff

Law360, Los Angeles (February 27, 2014, 8:01 PM EST) -- EBay Inc.'s founder and chairman on Thursday responded to billionaire activist investor Carl Icahn's criticisms of the company and two of its board members, calling Icahn's claims "unsubstantiated" and rebuffing his calls for eBay to spin off its multibillion-dollar PayPal Inc. unit.

Pierre Omidyar asserted in a statement that Icahn's claims regarding eBay board members Marc Andreessen and Scott Cook's alleged conflicts of interest are "false and misleading."

"Instead of having an honest discussion about a reasonable question, Mr. Icahn has chosen to attack the integrity...
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