EBay reached a preliminary settlement in a consolidated sharehold...
EBay reached a preliminary settlement in a consolidated shareholder suit, the firm said Thurs. Several eBay officers and directors were accused of purchasing allocations of shares in initial public offerings that should have been made available to eBay. The…
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shares in question were underwritten by Goldman Sachs. The settlement, submitted to the U.S. Dist. Court, Wilmington, Del., would set up a $3.395 million kitty funded by eBay’s chairman, CEO, a former vice president and Goldman Sachs. The company would give 1/2 the net proceeds to the Boys & Girls Club of Northern Cal. and the Appleseed charity. After the Del. court enters final judgment, eBay will file a motion to dismiss 2 related Cal. cases.