San Jose, Calif. – eBay (NASD: EBAY) said it has prevailed in a shareholder
suit filed against online classifieds site Craigslist and majority owners Jim
Buckmaster and Craig Newmark.
The ruling, in the Delaware Court of Chancery,
comes after Buckmaster and Newmark allegedly took steps to dilute eBay’s
minority stake in the company.
Specifically, it rescinds rules adopted by the
controlling shareholders in Jan. 2008 and restores eBay’s 28.% interest in
"We are very pleased that the Court gave eBay what it sought
from the lawsuit," said Michael Jacobson, eBay’s general counsel.