MOUNTAIN VIEW, Calif.--Oct. 20, 2003--Bank One Corporation, Bank One Delaware, N.A. (formerly known as First USA Bank, N.A.), eBay (Nasdaq:EBAY), and PayPal today announced that they have reached an agreement to their mutual satisfaction to dismiss the two lawsuits currently pending between the parties.
On September 6, 2002, Bank One Delaware filed suit against PayPal in the United States District Court, District of Delaware alleging patent infringement. On September 29, 2003, PayPal filed suit against Bank One Corporation in the United States District Court, District of Delaware alleging patent infringement.
The specific terms of the agreement are confidential. eBay and PayPal do not expect the agreement to have a material impact on their results of operations or financial positions. Bank One Corp. and Bank One Delaware do not expect the agreement to have a material impact on their results of operations or financial positions.
Forward-Looking Statements
This press release contains a forward-looking statement within the meaning of the Private Securities Litigation Reform Act of 1995. Such statement is based upon the current beliefs and expectations of the respective companies' management, and is subject to risks and uncertainties that may cause actual results of the companies to differ materially. Such risks and uncertainties are described in the respective reports of Bank One Corp. and eBay Inc. filed with the Securities and Exchange Commission, including their most recent annual reports on Form 10-K and their quarterly reports on Form 10-Q. The forward-looking statement above is based on information available to the respective companies on the date hereof, and the companies assume no obligation to update such statements.
About PayPal
Founded in 1998, PayPal, an eBay Company, enables any individual or business with an email address to securely, easily and quickly send and receive payments online. PayPal's service builds on the existing financial infrastructure of bank accounts and credit cards and utilizes the world's most advanced proprietary fraud prevention systems to create a safe, global, real-time payment solution. PayPal has more than 35 million account members and is available to users in 38 countries around the world. More information about the company can be found at https://www.paypal.com/.
About eBay
eBay is The World's Online Marketplace(R). Founded in 1995, eBay created a powerful platform for the sale of goods and services by a passionate community of individuals and businesses. On any given day, there are millions of items across thousands of categories for sale on eBay. eBay enables trade on a local, national and international basis with customized sites in markets around the world.