EBay sues Craigslist over alleged stake dilution : US Business

LOS ANGELES (Reuters) - Online auctioneer eBay Inc said on Tuesday it has sued Craigslist, alleging the Craigslist board of directors had diluted eBay's 28.4 percent stake in the online classifieds site.

The lawsuit, filed under seal, asks a Delaware Chancery Court to rescind the actions taken by the Craiglist board to protect eBay's stockholders and preserve its minority ownership interest.

The lawsuit names as defendants founder Craig Newmark and Chief Executive Jim Buckmaster and the company, according to a court clerk.

(Reporting by Gina Keating, editing by Adam Tanner and Braden Reddall)

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