eBay gains court victory in Craigslist struggle

Sep 13, 2010 • James Mawson

Associated Press reports on legal victory in online auction company eBay's venture investment in internet company Craigslist.

Online auction company eBay has gained a court victory over its corporate venturing investment in classifieds website Craigslist.

A US judge ruled Thursday that Craigslist founder Craig Newmark and chief executive Jim Buckmaster violated their responsibilities to eBay – which bought a stake in Craigslist in 2004 – with changes they implemented that diluted eBay’s share from 28.4% to 24.9% and made it harder for eBay to sell the interest, according to newswire Associated Press (AP).

Craigslist made the changes…

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