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| Stalking the Killer App ... |
Saturday, May 03, 2008 --- 83 days ago http://www.appscout.com/2008/05/craigslist_ceo_ebay_lawsuit_is.php
EBay is no stranger to the tactics over which the online auction site is suing Craigslist, according to a Thursday blog post from Craigslist CEO James Buckmaster.
"Although our response to each of eBay's unfounded claims will have to wait, it's worth pointing out that eBay is suing us for implementing protections for Craigslist that it clearly believes are perfectly appropriate for protecting itself," Buckmaster wrote in an entry titled "Kettles and Pots."
EBay filed suit against Craigslist last month for unfairly diluting its stake in Craigslist. According to court documents released this week , eBay agreed to give up its right of first refusal if it ever launched a service that would compete with Craigslist. EBay unveiled classifieds Web site Kijiji.com in the U.S. last year - and Craigslist promptly revoked eBay's right of first refusal. In January, Craigslist re-organized stock allotments to put eBay's stake below 25 percent, which basically gives the online auction site little say in Craigslist operations.
The move - known as a poison pill - is at the heart of the eBay lawsuit, but in his blog post, Buckmaster points to a 2004 eBay filing with the Securities and Exchange Commission (SEC) in which eBay reserves the right to implement a poison pill situation.
"We could use the additional shares of common stock to oppose a hostile takeover attempt or delay or prevent changes in control of ... |
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