eBay Reaches Settlement with U.S. Department of Justice
Agreement fully resolves previously disclosed inquiry related to laws administered by the Drug Enforcement Administration
eBay denies allegations of wrongdoing
eBay issued the following statement:
"Maintaining a safe and trusted marketplace for our global community of sellers and buyers is a fundamental principle of our business. eBay is proud of its well-recognized, proactive and voluntary efforts to remove the products that were the subject of the government's inquiry from our marketplace. While eBay acted lawfully and denies the DOJ's allegations, we determined that this agreement is in the best interest of the company and its shareholders as it avoids the costs, uncertainty and distraction associated with protracted litigation.
"eBay's actions to remove products that could be used for counterfeit pills – including dies, molds and pill presses – prior to any request from the DOJ or other authorities, and years before the government turned its attention to these products, prevented tens of thousands of potentially problematic listings from appearing on our marketplace. Government officials have repeatedly commended eBay for our partnership with law enforcement and efforts to support investigations into illegal pill press usage."
As previously disclosed, eBay has accrued for probable losses in connection with this DOJ inquiry. eBay will fund the payment contemplated in the settlement through cash on hand.
About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in
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SOURCE eBay Inc.
