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.

Featured Video
This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

Android Wear gets friendly with iPhones

iPhone users are no longer restricted to just the Apple Watch thanks to an update by Google.

by Iyaz Akhtar