Go Craig Tom Smith

So EBay has a minority stake in CraigsList.  EBay also owns one of CraigsList's biggest competitors.  Craig of CraigsList, does not want EBay represented on the board of directors of CraigsList.  As far as I can tell, EBay does not have any special rights to be represented on the board of CraigsList.  Now, taking some steps not described in the article, so I could be wrong, CraigsList is trying to make sure that EBay is not represented on the CraigsList board.  So, of course, EBay is suing.

All I can say is, you go Craig.  Dilute EBay, just as far as your old corporate contract says you can.  That's what it is, a contract.  If it says you can dilute EBay, then do it.  You are not obliged to give the owner of your competitor a seat on your board just because that would make their life more meaningful.  Your duty is to the CraigsList corporation, not some minority shareholder that would just as soon eat your lunch.  This can all be expressed in more corporate law speak, but that's the nub of it.