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Former e-commerce executive pleads guilty in eBay insider case

10
May
2014

A former executive at an e-commerce company that was acquired in 2011 by online retailer eBay Inc pleaded guilty on Friday to insider trading in connection with the takeover. Christopher Saridakis, 45, who had led the marketing solutions division of GSI Commerce Inc, pleaded guilty to one count of securities fraud for leaking material nonpublic information in March 2011 about the planned merger. The defendant entered his plea before U.S. District Judge Stewart Dalzell in Philadelphia, and was released on $300,000 bail, court records show. \Mr. Saridakis has pleaded guilty and accepted responsibility,\ said his lawyer, Richard Zack, a partner at Pepper Hamilton.

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