ebay inc (EBAY) Key Developments
eBay Appoints Paul Pressler to Board of Directors
Sep 29 15
eBay announced the appointment of Paul Pressler to its board of directors. As a director on eBay’s Board, Mr. Pressler will serve on the Audit Committee as well as the Corporate Governance and Nominating Committee. Mr. Pressler is a partner at the private equity firm Clayton, Dubilier & Rice, LLC. He currently serves as Chairman of David’s Bridal Inc. and SiteOne Landscape Supply Inc. and serves on the board of The DryBar Inc. Previously, Mr. Pressler served as the President and CEO of Gap Inc. He spent 15 years in senior leadership roles at The Walt Disney Company, including Chairman of the global theme park and resorts division, President of Disneyland and President of The Disney Stores. Mr. Pressler served as Chairman of AssuraMed and is a former director of Avon Products Inc., Oveture Acquisition Corporate and OpenTable Inc.
Ontario Teachers' Pension Plan In Talks To Buy Shares In Jasper Infotech For $6.5 Billion
Sep 23 15
Ontario Teachers' Pension Plan may acquire minority stake in Jasper Infotech Private Limited for $6.5 billion. Three people close to the matter said that the potential purchase by Pension Plan will be a purely secondary transaction as some early-stage investors in Jasper Infotech are selling out, either partly or completely. The news report quoted one person as saying that among the main selling shareholders are eBay Inc. (NasdaqGS:EBAY), Sequoia Capital, and Saama Capital Management, Ltd. It further added that Ontario Teachers' and Jasper declined comment.
eBay Overhauls its iOS and Android Apps with Unified Design and Revamped Seller Dashboard
Sep 8 15
eBay has rolled out a major update for its iOS and Android apps today, which brings the two platforms together in look and feel for the first time. The company announced the update makes the app 'more browsable' and gives easier access to sections like 'top deals', 'promotions' and 'events'. Previously, it wasn't a very inspiring app if one weren't on the hunt for a specific item. It should also now be easier to jump between the 'Activity', 'Shop' and 'Sell' tabs. Introducing eBay 4.0. For sellers, eBay has changed the way its app offers information based on activity. New users, for example, will see more information on best practices for selling their items.
Israeli Sues eBay for ILS 100,000 for Defamation
Sep 3 15
An Israeli has filed suit against eBay, claiming the US auction giant was guilty of libel and defamation. eBay removed the ad from the site, without cause or explanation, simply because I am a 'private seller'. The company is colluding with a large number of conglomerates in return for kickbacks and practically creates a monopoly with price-fixing which prevents the sale of products through anyone other than the authorized resellers connected to these conglomerates, and actively denies trade in second-hand goods which belong to its 'closed list', wrote Adv. Paz Itzhaki-Weinberger on the suit. The plaintiff in the case wanted to surprise his wife with a present, the Mademoiselle perfume from Chanel. According to the suit, he purchased the expensive fragrance for ILS 800 from Mashbir Lazarchan department store in 2014. Unfortunately, when he presented the gift to his wife, he discovered that she was not interested in the perfume because among other reasons the founder of the fashion powerhouse, "Coco Chanel, cooperated with the Nazis and worked for them while harboring a hatred of Jews and extreme anti-Semitism, and as such morality dictates (and it holds true certainly for Jews and Israelis who are descendants of families who lost many of their members in the Holocaust) that these products are boycotted. The plaintiff turned to eBay to try to recoup some of his outlay. Itzhaki-Weinberger said he is a frequent user of the company's services, which he has been using to buy and sell products for his family for over a decade. During the time he "gained 100% positive feedback from 391 users, meaning the plaintiff completed an average of 3 sales per month over the last 13 years. He claimed that over that time he gained an "untarnished reputation, which allowed him to continue easily trading on eBay.com and offered him relative ease when selling his own products because of the credibility he had attained. Itzhaki-Weinberger created the ad in January of 2015, at a cost of $5, "and received immediate approval to publish it. He offered the original, "unopened" perfume at a price point he claims to be lower than the market price (in a public auction starting at $40) in an attempt to quickly offload it. But to his surprise, the following day he received a 'very strange' email in his inbox informing him that his account was placed under an 'indefinite selling restriction' and his auction removed. 'After review of Itzhaki eBay account, company have concerns about Itzhaki selling activity. Selling privileges have been indefinitely restricted. Itzhaki won't be able to list new items. Itzhaki not allowed to register a new account. Some or all of Itzhaki listings may have been removed. eBay have credited any associated fees to Itzhaki account. The company decision is based on evidence from records and company to keep eBay a safer place for buyers and sellers. Company are not comfortable with Itzhaki selling practices or business model, and feel that they don't help promote a positive buying and selling environment. Even though Itzhaki can't sell on company website, Itzhaki can still use his account to buy or bid on items. Itzhaki can also send email, obtain shipping addresses, leave feedback, and perform other administrative tasks. Itzhaki-Weinberger claims that he tried to contact the company's representatives but did not receive an adequate response. He claimed that he was prevented from trying to trade his products because he is a 'private' seller attempting to sell goods from the giant conglomerate Chanel, unlike the 'closed sellers list' he claimed Chanel used. He claimed the French firm sells its products at a higher price only through its authorized resellers, denying private sellers from competing with lower prices. Itzhaki-Weinberger said that eBay has a program called VeRO which allegedly works to protect intellectual property rights owners from infringement and prevent the sale of faked or illegal products. But, instead, he claimed the program has been used as a cover for the creation of massive earnings for global eBay (which could potentially be criminal), and under which the defendants cooperate with numerous conglomerates (like Chanel and many others) in exchange for payments, and essentially creating a monopoly with 'price-fixing' which prevents the sale of goods through alternatives to the authorized resellers tied to those companies. Itzhaki-Weinberger is suing for ILS 100,000.
The R. Rex Parris Law Firm Files Claims Against eBay and PayPal
Aug 20 15
The R. Rex Parris Law Firm has filed claims against eBay® and PayPal® and various eBay Sellers in Federal Court under the Racketeer Influenced and Corrupt Organizations Act and the Lanham Act claiming the defendants knowingly and deliberately facilitate, proliferate and profit from the ongoing sale of counterfeit and fake products on ebay.com. The detailed 106 page lawsuit asserts that because eBay and PayPal cannot continue to enjoy the enormous profits derived from the proliferation of counterfeit and fake products sold on the eBay website if the intentional infringing sellers are excluded, eBay's policies and practices are designed to, among other things, promote the unlawful activities of its unauthorized sellers by soliciting eBay buyers to purchase fake products knowingly using listings that infringe on registered trademarks, conceal and protect the identity of the sellers who are responsible for intentional trademark infringement on the eBay website, and ignore evidence of the unlawful activities by its unauthorized sellers. According to the Complaint, to avoid liability, eBay's policies and practices are designed to manufacture the false optic that it does not know or suspect the rampant and on-going advertising on ebay.com of fake products that infringe on the trademarks' of legitimate rights holders, such as Plaintiff. According to the complaint, 'Plaintiffs are informed and believe that even more shocking is that consumers actually receive email notifications and eBay webpages from eBay encouraging the purchase of known counterfeit and fake products. When confronted on the counterfeit purchases, eBay directs consumers to mail counterfeits back to the seller as a mandatory condition for a refund. Returned counterfeits are easily recycled, re-listed and re-sold to unsuspecting consumers, and the buyer loses their only evidence of receiving a counterfeit'.