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Executive charged with insider trading ahead of eBay acquisition


(Reuters) – U.S. regulators have charged a former executive with insider trading for tipping family and friends in advance of eBay Incs purchase of the e-commerce company where he worked about the pending acquisition. The U.S. Securities and Exchange Commission said the former executive Christopher Saridakis, who had led the marketing solutions division of GSI Commerce, was also criminally charged by federal prosecutors in Pennsylvania. Separately, the SEC said five people who allegedly traded on tips about GSI agreed to pay more than $490,000 to settle related charges.

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