Craigslist wins summary judgment on 2 counts in eBay lawsuit
By APFriday, October 2, 2009
Craigslist wins preliminary ruling in eBay lawsuit
DOVER, Del. — Craigslist, the online classified ads company, has won the first salvo in a legal battle with Internet auctioneer eBay Inc.
A Delaware judge on Friday granted summary judgment to Craigslist on claims alleging that founder Craig Newmark and CEO Jim Buckmaster improperly granted themselves broad indemnifications against legal liabilities in 2007.
The judge noted that Newmark and Buckmaster never signed the indemnification agreements and have said they have no intention of ever executing them. Craigslist has said the indemnification agreements were intended merely as a future recruitment tool.
A trial is expected to begin later this year on eBay’s claims that Newmark and Buckmaster, the only two directors of Craigslist, improperly acted to dilute the minority interest of eBay, the company’s only other shareholder.
