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eBay has sued Craigslist, saying that eBay’s stake in the classifieds site has been unfairly diluted by more than 10 percent.
eBay, which has been a minority owner of Craigslist since 2004, issued a news release saying the Craigslist board of directors put measures into place that disadvantaged eBay and its investment, writes the San Francisco Chronicle. Craigslist shot out a response on the site’s blog, saying the allegations are unfounded and that the lawsuit came out of the blue.
“Coming from a company that views Craigslist as a prime competitor, filing suit without so much as mentioning these assertions to us beforehand seems unethical, and suggests ulterior motives…. Ebay has absolutely no reason to feel threatened unless a hostile takeover of Craigslist, or the sale of Ebay’s stake in Craigslist to an unfriendly party, is their ultimate goal,” the post said (via Newsweek).
The post adds, “To be perfectly clear, Ebay’s stake in craigslist has not been unfairly diluted as they have claimed.”
The lawsuit was filed in
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