{"id":3073,"date":"2008-04-23T01:43:42","date_gmt":"2008-04-23T00:43:42","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/contributions\/general\/ebay-sues-craigslist-cites-dilution\/3073\/"},"modified":"2014-02-25T13:15:47","modified_gmt":"2014-02-25T13:15:47","slug":"ebay-sues-craigslist-cites-dilution","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/contributions\/general\/ebay-sues-craigslist-cites-dilution\/","title":{"rendered":"eBay sues craigslist; cites dilution"},"content":{"rendered":"<p><img decoding=\"async\" border=\"1\" vspace=\"2\" align=\"left\" src=\"http:\/\/rinf.com\/alt-news\/wp-content\/uploads\/2008\/04\/ebay.jpg\" hspace=\"2\" alt=\"ebay.jpg\" title=\"ebay.jpg\" \/>By Larry Dignan |<\/p>\n<p>EBay said Tuesday that it is suing craigslist, Craig Newmark and Jim Buckmaster to \u201csafeguard its four-year financial investment.\u201d<\/p>\n<p>The auction giant bought a 28.4 percent stake in craigslist in 2004, but alleges that in January that Newmark and Buckmaster \u201cadopted measures that, among other things, unfairly diluted eBay\u2019s economic interest in craigslist by more than 10 percent.\u201d I have emailed craigslist to find out what exactly Newmark and Buckmaster did. My guess: craigslist issued more shares to dilute eBay\u2019s stake.<\/p>\n<p>eBay\u2019s Kijiji already competes with craigslist. <a href=\"http:\/\/biz.yahoo.com\/bw\/080422\/20080422006477.html?.v=1\">In a statement<\/a>, eBay said (<a href=\"http:\/\/www.techmeme.com\/080422\/p88#a080422p88\">Techmeme<\/a>):<\/p>\n<blockquote><p>By taking these unilateral actions, eBay believes that Newmark and Buckmaster breached their fiduciary duties in violation of Delaware corporate law.<\/p><\/blockquote>\n<p>Unfortunately, the complaint is sealed due to confidentiality restrictions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Larry Dignan | EBay said Tuesday that it is suing craigslist, Craig Newmark and Jim Buckmaster to \u201csafeguard its four-year financial investment.\u201d The auction giant bought a 28.4 percent stake in craigslist in 2004, but alleges that in January that Newmark and Buckmaster \u201cadopted measures that, among other things, unfairly diluted eBay\u2019s economic interest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,518],"tags":[31],"class_list":{"0":"post-3073","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-general","7":"category-webmasters","8":"tag-internet"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/3073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=3073"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/3073\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=3073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=3073"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=3073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}