eBay Agrees To Pay $3M For Sending Live Cockroaches And Fetal Pig To Silent Critical Bloggers
Portfolio Pulse from Benzinga Neuro
eBay Inc. (NASDAQ:EBAY) has agreed to pay a $3 million criminal penalty to resolve charges from a 2019 harassment campaign against bloggers critical of the company. The campaign, led by a former eBay senior director and other staff, involved sending threatening messages and disturbing items to the bloggers. eBay admitted to the charges in a deferred prosecution agreement and will be under supervision for three years. The company has made policy changes and the CEO has apologized. Analyst sentiment towards eBay has shifted recently, with a 6.19% decrease in the average 12-month price target.
January 12, 2024 | 4:11 am
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eBay Inc. has settled a legal case by paying $3 million and agreeing to a deferred prosecution agreement, which includes policy changes and an apology from the CEO. Analyst sentiment has shifted, and the average 12-month price target for eBay has decreased by 6.19%.
The settlement of the legal case and the negative publicity from the harassment campaign are likely to impact investor sentiment negatively in the short term. The admission of charges and the CEO's apology suggest significant reputational damage, which could affect the stock price. Additionally, the recent shift in analyst sentiment and the decrease in the average 12-month price target indicate a bearish outlook for eBay's stock in the near future.
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IMPORTANCE 90
RELEVANCE 100