eBay Wins Lawsuit Over Craigslist Board Seat

A Delaware judge has ruled in favor of eBay saying that Craigslist created its "anti-takeover" defenses to weaken eBay’s role in the company. Now we can move foward with an adult services section on Craigslist with a "buy it now" feature.

The ruling rescinded a move by Craigslist's board that diluted eBay's stake in the company from 28 percent to less than 25 percent and kept eBay from holding a director's seat on the board. eBay referred to Craigslist's move as a "coercive plan," according to a Reuters report, while Craigslist said it was a move to fend off a hostile takeover by eBay, which had launched a rival classifieds site called Kjiji in 2007.

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