• Bloomberg, Friday, September 10, 2010 12:49 PM

A judge in Delaware granted EBay a partial victory in its lawsuit against Craigslist. EBay, which is a minority stakeholder in Craigslist (with 28 percent of the company) charged that the classified service had planted a poison-pill provision, which it used to strip EBay of a board seat and weaken the value of its holdings.

"Craigslist owners Craig Newmark and James Buckmaster were driven by 'animus toward EBay and a desire to cement their own control' when they adopted corporate governance changes that diluted the Internet auctioneer's stake, EBay said in court filings," reports Bloomberg. The measure, said the complaint, was meant "to punish EBay for competing with Craigslist" and not "in response to a reasonably perceived threat or for a proper corporate purpose," the judge wrote in his decision, finding that move was meant to punish EBay for competing with Craigslist.

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