SAN JOSE, Calif. - eBay Inc. (NASDAQ: NASDAQ:EBAY) has reached a deferred prosecution agreement with the U.S. Attorney's Office for the District of Massachusetts, addressing misconduct by former employees in 2019, the company announced today. The agreement relates to a serious incident involving eBay's former staff and Ina and David Steiner, who were targeted in a harassment campaign.
eBay's CEO, Jamie Iannone, acknowledged the wrongdoing by the company's former employees, describing the 2019 actions as "wrong and reprehensible." Iannone emphasized that eBay has been fully cooperative with law enforcement since becoming aware of the incident and has since implemented stronger policies and training to prevent such occurrences.
The investigation, which began in August 2019 after law enforcement notified eBay of the suspicious activities, led to eBay's extensive cooperation with the government. This included disclosing evidence, sharing information from its internal investigation, facilitating employee interviews, and providing documents to the U.S. Attorney's Office.
Under the terms of the three-year agreement, eBay will continue to work with the U.S. Attorney's Office and submit to an independent compliance monitor to assess and improve its compliance program. Additionally, eBay will pay a $3,000,000 penalty. If eBay fulfills the terms of the agreement, the U.S. Attorney will dismiss the criminal Information after three years.
This news article is based on a press release statement from eBay Inc.
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