According to an eBay news release, they are suing Craigslist. Why? eBay is suing Craigslist over alleged dilution of its minority interest – details on the news release were scant. eBay owns a 28.4% minority position in Craigslist.
I always thought Craigslist and eBay shared similar interests. This was a complete surprise. I am sure many will be tracking the outcome of this case.
Here is eBay’s statement:
eBay Files Corporate Governance Suit to Protect its Investment in Craigslist
Here is Craigslist’s blog response:
Ebay has filed suit against craigslist and its board of directors
Update 5/1/08: Here is an update from TechCrunch: ebay vs craigslist complaint released
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