eBay sues Craigslist over stock dispute

Accusing Craigslist's board of diluting eBay's stake in the company, eBay has filed suit in a Delaware chancery court.

In a tiff over its 28.4 percent share in Craigslist, auction giant eBay has filed suit against the online classifieds site in a Delaware court of chancery. According to Reuters, eBay has accused Craigslist's board of directors of diluting its share.

The court confirmed that eBay filed its complaint Tuesday afternoon but could not provide further details, because the suit was filed under seal.

In a phone conversation, Craigslist founder Craig Newmark said, "We're still trying to digest it," and recommended contacting CEO Jim Buckmaster for further comment. Buckmaster did not immediately reply to an e-mail inquiry.

Newmark, Buckmaster, and the Craigslist company are reportedly named as defendants in the suit, the Reuters article asserts.

About the author

Caroline McCarthy, a CNET News staff writer, is a downtown Manhattanite happily addicted to social-media tools and restaurant blogs. Her pre-CNET resume includes interning at an IT security firm and brewing cappuccinos.

 

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