Ebay have been sued for around $3.8 billion yesterday by a Connecticut company who accused the online auctioneer of infringing six patents which revolve around payment systems such as Paypal.
According to the complaint filed by XPRT Ventures LLC in Delaware, eBay have reportedly stolen information shared in confidence by the inventors on XPRT’s own patents. This has been used in their own payment systems, such as Paypal Pay Later and PayPal Buyer Credit.
“This involves a trade secret theft, along with sheer patent infringement, It is bad enough to take someone’s technology, but it is a bit much to use it in your own patent application.” said Steven Moore, a partner at Kelley Drye & Warren LLP.
eBay have apparently not been returning calls regarding this case and they have, as yet to reply to Reuters emails seeking information.
KitGuru says: Even for Ebay, $3.8 billion is a considerable amount of cash.