Craigslist had filed a countersuit against their competitor, eBay. Craigslist stated that they filed a case for copyright infringement against eBay for using ads on Google for Kijiji, which is a rival site of Craigslist but the ads are appearing on Craigslist and not from Kijiji.
eBay have members on the board of craigslist and these members are said to be pressuring craigslist to be bought by its competitor, eBay. These members are also gathering information for the launch of Kijiji which is a competitor of craigslist.
The reason for their filing of a countersuit was for eBay to return all their shares from craigslist.
eBay had bought 28.4% of shares in craigslist’s stock in 2004 but the founder and CEO of craigslist diluted it to less than 10% which is believed by eBay to be unethical, at least this is what eBay has allegedly said. Craigslist on the other hand denied these accusations and filed a countersuit against eBay for unethical practice.
With all these drama between eBay and Craigslist, it is still left for the judge to affirm which of these 2 cyber giants are telling the truth and which one has an ill motive against the other.