Wednesday, April 23, 2008

eBay Suing Craigslist

Auction powerhouse, eBay, which is a minority shareholder in Craigslist, has filed a sealed suit against the free classifieds site.

Craigslist spokespeople noted the suit "came out of the blue." eBay apparently claimed that Craigslist executives "unfairly took actions that diluted eBay's economic interest by more than 10%." The statement was issued in January. In their blog, Craigslist said the allegations were "unfounded" and insisted they "have always treated eBay fairly as a minority shareholder."

No real details concerning the allegations are available at this time.

© C Harris Lynn, 2008

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