In the Region
Saul Ewing to merge with Boston firm
Saul Ewing L.L.P., of Center City, said it planned to merge with the Boston real estate and business law firm Dionne & Gass L.L.P., effective July 1. The merger will bring seven new lawyers to Saul Ewing, five as partners, one as special counsel, and another as an associate, and expand Saul Ewing's East Coast presence with its first office in Boston. The combined law firm will retain the Saul Ewing name and have 235 lawyers. - Chris Mondics
EBay settles shareholder lawsuits
EBay Inc. agreed to pay about $24 million to resolve investor lawsuits over its $2.4 billion acquisition of the online marketing firm GSI Commerce Inc., King of Prussia. As part of the acquisition, eBay will divest all of GSI's licensed sports- merchandise business and 70 percent of online-retail sites Rue La La and ShopRunner, court papers show. eBay officials said they were selling those assets to NRG Commerce L.L.C., a company set up by GSI CEO Michael Rubin, because they aren't part of its core long-term growth strategy. Some GSI shareholders, including SEPTA and the Erie County Employees Retirement system, filed suit in Delaware Chancery Court earlier this year to challenge the buyout. GSI shareholders were set to ask Judge John Noble to block the deal at a hearing Friday. The hearing was canceled without explanation. Noble still must decide whether to give final approval to the settlement. - Bloomberg News