  We observe 441 K_{L} -> e^{+} e^{-} e^{+} e^{-} candidate events with a
background of 4.2 events and measure B(K_{L} -> e^{+} e^{-} e^{+} e^{-}) =
(3.72 \pm 0.18(stat) \pm 0.23(syst)) \times 10^{-8} in the KTeV/E799II
experiment at Fermilab. Using the distribution of the angle between the planes
of the e^{+} e^{-} pairs, we measure the CP parameters beta_{CP} = -0.23 \pm
0.09(stat) \pm 0.02(syst) and gamma_{CP} = -0.09 \pm 0.09(stat) \pm 0.02(syst).
We also present the first detailed study of the e^{+} e^{-} invariant mass
spectrum in this decay mode.
