A lawsuit filed by EBay Inc against Craigslist heads to a Delaware state courtroom next Monday, for a trial that promises to reveal the inner workings of two benchmark Web companies and bring to the witness stand two Internet pioneers: former eBay Chief Executive Meg Whitman and Craigslist founder Craig Newmark. The twice-delayed trial will likely underscore the glaring differences in the companies' approaches to business. |
In its April 2008 lawsuit, eBay claimed that Newmark and Chief Executive James Buckmaster hatched a "coercive plan" in 2007 and conducted "clandestine transactions" that diluted eBay's stake to 24.85 percent from 28.4 percent. Because eBay's ownership fell below 25 percent, it lost its seat on Craigslist's board. EBay said an original shareholder agreement to be produced in court clearly outlined each party's rights and responsibilities. |