

-- In 2004 eBay acquired a minority ownership interest in Craigslist of 28.4 percent, buying it from a former Craigslist executive who was seeking to sell his shares.
-- According to the lawsuit, In January 2008, founder Craig Newmark and CEO Jim Buckmaster adopted measures that, among other things, “unfairly diluted eBay’s economic interest in Craigslist by more than 10 percent,” the company release says.
-- eBay believes that Newmark and Buckmaster breached their fiduciary duties in violation of Delaware corporate law.
-- The complaint is being filed under seal (meaning we can’t access the lawsuit) because some of the “information about Craigslist contained in the complaint is governed by confidentiality restrictions”.
http://www.paidcontent.org/entry/419-ebay-finally-loses-cool-sues-craigslist-over-stake-dilution/
http://news.yahoo.com/s/ap/20080423/ap_on_hi_te/ebay_craigslist
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