by Mike Masnick
Thu, Sep 9th 2010 5:09pm
We were pretty skeptical two plus years ago when the details came out concerning the lawsuit between eBay and Craigslist over Craigslist's decision to exclude an eBay representative from its board to unilaterally diluting eBay and ignoring a proposed new board member, while holding board meetings without him. As we said at the time, it's quite clear why Craigslist did what it did, but that doesn't make it legal. And, in fact, a judge has now ruled in eBay's favor, rescinding the poison pill anti-takeover rules that Craigslist's board passed without eBay present. The whole situation really is a bit of a mess, and while I think Craigslist was wrong to take the actions it took here, it does make you wonder if eBay should recognize that having a board member on Craigslist's board is too big a conflict of interest. Updated: The original coverage of this news was a bit vague, but now the details are coming out, and the report is mixed: the dilution was rolled back, so eBay still owns the larger percentage, but eBay has been kept off Craigslist's board for now...
If you liked this post, you may also be interested in...
- Rogers Exec Pouts About VPNs, Publicly Dreams Of Canadian Ban
- AT&T's $30 'Don't Be Snooped On' Fee Is Even Worse Than Everybody Thought
- If You Want To See What The U.S. Broadband Market Really Looks Like, Take A Close Look At West Virginia
- Patent Troll Sues eBay For Daring To Ask Patent Office For Patent Re-Exam
- Judge's Overly Broad Discovery Order About Online Critics Allows Ubervita To Bully More Authors Of Critical Reviews