Private firm slams eBay with $3.8 billion lawsuit

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San Francisco: The eBay Inc, US internet company who manage ebay.com, was plunked by a private company called XPRT Ventures by filing a lawsuit of $3.8 billion.

XPRT Ventures claimed that eBay Inc has stolen its ideas for online payments and then tried to patent them as its own.

In the lawsuit, XPRT Ventures stated that after signing a confidential agreement with eBay it shared details of its online payments system. Later the company came to know that eBay applied for patents for that same technology. But the application was rejected because XPRT Ventures have the patent.

eBay Inc is an American Internet company that manages eBay.com, an on-line auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide.

The representatives of eBay Inc explained that the lawsuit by XPRT Ventures was without merit.

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