The lawsuit was initiated in 2008, and alleged majority Craigslist stockholders, and the company founders Mr. Buckmaster and Mr. Newmark, unlawfully undertook transactions that unfairly diluted eBay’s minority share in Cragslist.
eBay Inc. made an initial investment in the classifieds giant in August of 2004, although the terms of the deal were not disclosed, other than the fact that eBay earned a marginal 25-percent stake in the company after buying out the shares of an exiting executive.
eBay says the ruling today restores the firms investment in Craigslist and preserves value to eBay shareholders.
eBay now currently holds a non-controlling 28.4-percent total stake in the company.
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