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<i><b>Online Exclusive: </b></i> Craigslist/eBay Trial Ends; Judge Hints at Settlement Talks
In the suit, eBay is claiming that Craigslist violated Delaware corporate governance laws when it took steps to dilute eBay's 28% minority stake in Craigslist in order to strip eBay of its seat on the Craigslist board.
But lawyers for Craigslist did their best to put eBay on trial by focusing on claims that eBay misused Craigslist's confidential documents.
Chandler instructed the lawyers to work together on a post-trial briefing schedule.
Craigslist was represented at trial by attorney Michael Clyde of the Phoenix office of Perkins Coie; Catherine G. Dearlove of Richards Layton & Finger in Wilmington; and Arthur Dent of Potter Anderson & Corroon.
The lead lawyer for eBay was Michael G. Rhodes of Cooley Godward Kronish in San Francisco, along with William M. Lafferty of Morris Nichols Arsht & Tunnell in Wilmington.
The trial, which was carried live by Courtroom View Network, was closely watched because it could have a profound effect on the future of both companies and the online classified market. Corporate lawyers are watching too because the case presents important questions about the rights of minority shareholders.
Lawyers for eBay contend that Craigslist took a series of actions in January 2008 that improperly diluted eBay shares and imposed new rules ' including a so-called ”poison pill” ' that altered eBay's contractual rights.
But lawyers for Craigslist contend that the moves were prompted by eBay's decision to begin competing directly with Craigslist in the U.S. market when it launched the Kijiji classified site. The protective measures taken by Craigslist were justified, they argued, because of eBay's misuse of confidential Craigslist information and its veiled threats to seek a controlling stake in Craigslist
Shannon Duffy The Legal Intelligencer Internet Law & Strategy
In the suit, eBay is claiming that Craigslist violated Delaware corporate governance laws when it took steps to dilute eBay's 28% minority stake in Craigslist in order to strip eBay of its seat on the Craigslist board.
But lawyers for Craigslist did their best to put eBay on trial by focusing on claims that eBay misused Craigslist's confidential documents.
Chandler instructed the lawyers to work together on a post-trial briefing schedule.
Craigslist was represented at trial by attorney Michael
The lead lawyer for eBay was Michael G. Rhodes of
The trial, which was carried live by Courtroom View Network, was closely watched because it could have a profound effect on the future of both companies and the online classified market. Corporate lawyers are watching too because the case presents important questions about the rights of minority shareholders.
Lawyers for eBay contend that Craigslist took a series of actions in January 2008 that improperly diluted eBay shares and imposed new rules ' including a so-called ”poison pill” ' that altered eBay's contractual rights.
But lawyers for Craigslist contend that the moves were prompted by eBay's decision to begin competing directly with Craigslist in the U.S. market when it launched the Kijiji classified site. The protective measures taken by Craigslist were justified, they argued, because of eBay's misuse of confidential Craigslist information and its veiled threats to seek a controlling stake in Craigslist
Shannon Duffy The Legal Intelligencer Internet Law & Strategy
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