Amazon, EBay Settle Shareholder Suits

From Bloomberg News, Associated Press

Internet giants Inc. and EBay Inc. announced they were settling unrelated shareholder lawsuits.

Amazon agreed to pay $20 million to settle a suit alleging that it misled investors in February 2000 when it sold 690 million euros ($681 million) of debt.

Under the EBay settlement, three executives -- Chief Executive Meg Whitman, founder and Chairman Pierre Omidyar and former President Jeffrey Skoll -- will pay $3 million to settle a lawsuit filed by company shareholders who contended that the executives received special privileges to buy stock that was unavailable to ordinary investors.