eBay's insurer sues to escape cyberstalking settlement bill

ACE Property & Casualty Insurance sued eBay and three former executives, alleging they finalized a $55.7M cyberstalking settlement without consent. The insurer claims the 2019 harassment was intentional, excluded from its policy. ACE seeks damages and a ruling to avoid coverage obligations. The settlement included $48.7M for the Steiners and $7M in charitable contributions.

Chubb Ltd. is suing eBay Inc. and three former executives, claiming it should not have to pay a $56 million settlement to journalists Ina and David Steiner, who alleged they were stalked and harassed by eBay's security team. The lawsuit was filed in the US District Court for the Northern District of California.

BMO Capital Markets analyst Brian Pitz named eBay a top pick in e-commerce, citing durable growth and diverse revenue drivers. He reiterated an Outperform rating and $150 price target after meetings with management, highlighting growth in consumer-to-consumer sales, eBay Live, and Depop. Management emphasized broad-based demand and structural improvements, with AI and trust infrastructure supporting the investment thesis.

The UK government plans to ban under-16s from online marketplaces like Vinted, eBay, Depop, and Facebook Marketplace due to grooming concerns. A consultation showed strong public support for the ban, with regulations expected by year-end and implementation in spring 2027. The Children’s Society reported risks of exploitation on these platforms.

A federal judge certified a class action lawsuit against Amazon, alleging its pricing policies artificially inflated prices on eBay and Walmart. The case, filed in 2020, claims Amazon's anti-discounting policies discouraged sellers from offering lower prices on competing platforms. The certified class includes U.S. buyers who made qualifying purchases since 2016. Amazon disputes the claims, arguing its policies ensure competitive offers. The case is Frame-Wilson et al. v. Amazon.com Inc.

Needham reiterated a Buy rating and $140 price target for eBay (EBAY), citing management's confidence in growth. The stock has gained 48% over the past year. eBay reported strong Q3 results, with $23.2B GMV and $3.21B revenue, exceeding expectations. Several analysts raised their price targets following the results.