4 ms·

I believe the owner of craigslist got sued over his refusal to maximize profit.

• thwarted 11y ago
  You got a reference for that?, because since Craiglist is private, there doesn't seem to be much chance of a traditional "maximizing profit" in-the-shareholds-best-interst lawsuit going anywhere.
  • maxerickson 11y ago
    HuffPo, but Ebay (a part owner at the time, haven't checked if they still are) sued Craig Newmark (and another individual at Craigslist): http://www.huffingtonpost.com/2010/09/10/craigslist-ebay-lawsuit-e_n_711795.html http://www.huffingtonpost.com/2010/09/10/craigslist-ebay-law... But it was not about profit maximization, Ebay argued that actions they took were harmful to the stake Ebay owned in the company. So it was just a more typical shareholder lawsuit. (It's unlikely that Craigslist has overtly stated that the purpose of the company is to maximize profit, so as long as Newmark controls a huge chunk of the company a lawsuit along those lines is going to be a tough hill to climb)
    • thwarted 11y ago
      Ah yes, thanks. I had forgotten about that outside investment in craigslist.
  • mreiland 11y ago
    I don't have any citations, I just remember reading about Newmark getting sued for something related to profits and him going on record as saying profits weren't the main motivating factor for craigslist. I could be misremembering some of the details, however.