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elgato
Joined: 24 Feb 2005
Posts: 17236
Location: Texas
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| Posted: Mon Sep 28, 2009 11:25 am Post subject: Whitman likely to take stand in eBay-Craigslist civil trial |
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Meg Whitman may have to take time off from her Republican gubernatorial campaign next month to appear as a key witness at a Delaware civil trial featuring Web behemoths eBay and Craigslist.
The Delaware case is set for trial Oct. 5, and it could be the first of a two-part, cross-country courtroom brawl between the online giants over their competing classified advertising businesses.
"The witness list has not been finalized yet, but it's highly likely she will be testifying," eBay spokeswoman Maggie Fitzpatrick said Friday of Whitman's role in the trial.
As eBay's former chief executive officer, Whitman allegedly oversaw its aggressive 2004 purchase of a minority 28 percent stake in Craigslist. She also still owns millions of dollars worth of stock in San Jose-based eBay.
It's not uncommon for business leaders turned politicians to become embroiled in lawsuits about events that took place before they left a company. Complex disputes involving millions of dollars yield mountains of documents and depositions, easily taking years to wind their way through the courts.
more.. link to news article |
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purple_reading_giraffe
Joined: 04 Feb 2008
Posts: 5485
Location: Indiana, USA
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| Posted: Tue Sep 29, 2009 9:30 am Post subject: |
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| I wonder if Governors can grant pardons for civil cases. Good thing the trial is out of her potential jurisdiction. :twisted: |
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wphamilton
Joined: 01 May 2005
Posts: 1940
Location: Georgia
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| Posted: Sun Oct 04, 2009 1:36 pm Post subject: |
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| Anyone know about contact information to suggest questions? |
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elgato
Joined: 24 Feb 2005
Posts: 17236
Location: Texas
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| Posted: Mon Oct 05, 2009 11:16 am Post subject: Re: Whitman likely to take stand in eBay-Craigslist civil tr |
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Update:
"eBay and Craigslist Trial Postponed, Use Blogs for War of Words"
eBay, which had filed a corporate governance lawsuit against Craigslist accusing founder Craig Newmark and CEO Jim Buckmaster of breaching their fiduciary duties, has been granted a postponement. The trial is now scheduled for December7, 2009. The Court of Chancery of the State of Delaware also issued a pretrial decision that dismissed two charges brought by eBay Inc. against Newmark and Buckmaster.
eBay's deputy general counsel, Mary Huser issued a statement on eBay's corporate blog stating in part, "The evidence we will present will show that the board of directors engaged in a scheme to dilute eBay's shares in craigslist. eBay is asking the Court to reverse these transactions and return the property that was wrongly taken from it by the craigslist board directors."
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elgato
Joined: 24 Feb 2005
Posts: 17236
Location: Texas
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| Posted: Fri Dec 04, 2009 11:03 am Post subject: Re: Whitman likely to take stand in eBay-Craigslist civil tr |
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update:
"Former EBay CEO Whitman to Be First Witness in Craigslist Trial"
Dec. 4 (Bloomberg) -- California gubernatorial candidate Meg Whitman, EBay Inc.’s former chief executive officer, is scheduled to be the first witness to testify next week in the trial of the company’s lawsuit against Craigslist Inc.
Whitman, who resigned as CEO in 2008, will be followed on the witness stand in the Delaware Chancery Court trial by EBay founder Pierre Omidyar, said Alan Marks, a spokesman for San Jose, California-based EBay. The company runs the world’s most- visited e-commerce site.
EBay wants Judge William Chandler to find that Craigslist owners Craig Newmark and James Buckmaster diluted EBay’s minority stake in the San Francisco-based online advertising company by changing its stock structure. Craigslist officials said the changes were designed to beef up the closely held company’s anti-takeover defenses.
The trial in Georgetown, Delaware, is expected to last a week. EBay contends Newmark and Buckmaster approved corporate governance changes that reduced EBay’s stake in Craigslist to less than 25 percent, eliminating its right to elect a board member. Craigslist has countersued EBay in state court in California.
Susan Best, a Craigslist spokeswoman, declined to comment on EBay’s witnesses. She confirmed that Buckmaster and Newmark are scheduled to testify in the case.
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elgato
Joined: 24 Feb 2005
Posts: 17236
Location: Texas
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| Posted: Tue Dec 08, 2009 12:18 pm Post subject: Re: Whitman likely to take stand in eBay-Craigslist civil tr |
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"eBay Founder Pierre Omidyar Testifies in eBay v Craigslist Trial"
Pierre Omidyar was on the hot seat on Monday afternoon in the eBay v. Craigslist trial over corporate governance. After eBay acquired 28 percent of Craigslist in 2004, Mr. Omidyar sat on the board of Craigslist in addition to serving as Chairman of the Board at eBay, the company he founded in 1995. Craigslist's lawyer raised the issue of potential conflicts of interest.
The lawyer also asked about Omidyar's fiduciary duty to Craigslist. "If you were to become aware of a significant competitive threat to Craigslist in which it could take action, would you be responsible to bring that to the attention of the Board?"
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