wow Ebay hit hard

[romeo216]

XPRT Ventures Sues eBay for $3.8 billion

The following is excerpted from a July 13, 2010 Reuters article published at the NY Daily News:

EBay Inc. has been sued for at least $3.8 billion by XPRT Ventures LLC, which accused the online auctioneer and retailer of infringing six patents to develop online payment systems such as PayPal.

The lawsuit was filed on Tuesday in the U.S. district court in Delaware, lawyers for the plaintiff said.

According to the complaint, eBay used confidential and proprietary information from XPRT in its own application for a patent, and also to roll out several features for use in its payment systems.

The lawsuit seeks a minimum $3.8 billion in monetary damages, treble damages resulting from eBay's alleged "willful and malicious conduct," punitive damages, and other remedies.

[jimmylott1]

good...hope that shut paypal down

[rcdrivertim]

WOO HOO!!!!!!!!!!!!!!!! Go get these idiots...Would be great if Paypal wasn't the only source of payments on eBay...

[xl_The_Jackal_lx]

XPRT, my new heroes.

WOO! GO GET EM. Burn 'em to the ground!

[TGMT²]

I am not sure why the few that have posted are so happy about this?

PayPal is owned by eBay as everyone knows, most of us derive our income from eBay. If PayPal loses or settles this Lawsuit, where exactly do you think they will recover their losses?

My guess would be the sellers with increased eBay and PayPal fee's and such. As bad as their fee structure is now...it could get way worse.

I for one don't like change.

[slapped]

3.8 Billion is a "Drop in the Bucket" for Ebay, Ebay's PROFIT last year alone was over 2 Billion, so 3.8 billion, no big deal they could pay it off in a couple of years. Thats only if they lose the Case--and that has yet to be seen, the case alone should take a few years to settle. And another thing if Ebay feels that they can lose the case they will Settle out of Court for a LOT less than 3.8 billion, so no matter what Happens Nothing will change.

[MtnDew]

^^^^^^^

ya i said the same thing in a different situation about cigarettes when they hit 2 dollars a pack. Different situation but basically same idea. the people using the product in the long run pay for these big lawsuits.

Good! This made my day!!

[xl_The_Jackal_lx]

Originally Posted by TheyGotMeToo

I am not sure why the few that have posted are so happy about this?

PayPal is owned by eBay as everyone knows, most of us derive our income from eBay. If PayPal loses or settles this Lawsuit, where exactly do you think they will recover their losses?

My guess would be the sellers with increased eBay and PayPal fee's and such. As bad as their fee structure is now...it could get way worse.

I for one don't like change.

EBay is not the giant it once was and in my opinion is on the slow way out. EBay is Rome in its final days with barbarians pounding at the gates. And, like Rome, they have nobody to blame but themselves. Once it's gone, or its market share is drastically decreased because people stop using it or it goes bankrupt, suitable alternatives will arise. Or maybe at the very least they'll learn to stop p*ssing in our ears and telling us it's rain.

But maybe that's just wishful thinking.

[rsot]

It's just a lawsuit - nothing to get excited about ...yet. I will wait to see on decision or settling, whatever. Lawsuits happen all the time!

[jamblix]

Why are you all so happy about this? If eBay loses I'm pretty sure it's safe to assume that we the sellers will somehow lose too. Man that is a huge amount of money though, whatever happens I just hope it doesn't affect us negatively.

[xl_The_Jackal_lx]

Originally Posted by jamblix

Why are you all so happy about this? If eBay loses I'm pretty sure it's safe to assume that we the sellers will somehow lose too. Man that is a huge amount of money though, whatever happens I just hope it doesn't affect us negatively.

I'm not clinging to ebay in hopes that things are going to get better. They're not. At this point all we can hope for IMO is that ebay's monopoly gets broken and some useful competition arises.

[MadSam]

eBay's monopoly won't get broken down until the buyers move on - that's going to happen by ebay being hit hard.

[davevjr]

destroying consumer confidence is the key!