The Court of Chancery entered its post-trial opinion in the closely watched battle between eBay and Craigslist earlier this month, and while neither side can claim victory, the ruling means minority shareholder eBay will no longer be able to seat a director on the Craigslist board.
The Sept. 9 opinion from Chancellor William B. Chandler III in eBay Domestic Holdings Inc. v. Newmark ruled on three measures adopted by defendants Craig Newmark and Jim Buckmaster, Craigslist’s directors and the controlling stockholders of the private company.
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