Stockholders of GSI Commerce Inc, which EBay Inc (EBAY.O) is acquiring, will get a payment of 33 cents a share in a settlement of a merger-related lawsuit, the companies said on Monday. The agreement clears the way for the merger, which was announced in late March, to close on Friday. The deal settles the claims of GSI shareholders who accused the company's chief executive officer, Michael Rubin, of using the merger to line his own pocket. The payment to shareholders is separate from the $29.25 per share, or nearly $2 billion, that eBay offered to purchase GSI, which provides e-commerce services.
eBay Inc. (eBay) bring together buyers and sellers every day on a local, national and international basis through a range of Websites. Shares of EBAY remained unchanged at $29.96. In the past year, the shares have traded as low as $19.06 and as high as $35.35. On average, 9771750 shares of EBAY exchange hands on a given day and today's volume is recorded at 2004296.
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