Investigation and pending class action complaint against online auction giant eBay, claiming the company has acted through abusive methods to maintain its monopoly in the online auction market.
The class action lawsuit focuses on a violation of the Sherman Act alleging eBay has used illegal tie-in and steering practices to remain the number one online auction site. It is estimated that eBay controls in excess of 90 percent of the online auction market to date. According to the class action complaint the named plaintiffs and other users of eBay are forced to pay higher fees as a result of eBay's practices. Both plaintiffs, who are active sellers on the site, claim eBay's tie-ins with PayPal and Verisign have led to higher credit card fees that must be paid to eBay or PayPal. These fees are artificially inflated and used to help eBay maintain its dominance over the online auction business.
Name (Stock Symbol)
eBay Inc. and its subsidiaries provide online marketplaces for the sale of goods and services, online payments services, and online communication offerings to individuals and businesses in the United States and internationally.
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