Feeds

eBay subpoenaed in DoJ commissions-fixing probe

More miracles of the 'new economy'

  • alert
  • submit to reddit

Security for virtualized datacentres

The US Department of Justice (DoJ) has subpoenaed documents from eBay relating to an investigation of auctioneers Sotheby's and Christie's amid allegations of price-fixing of commissions, the Associated Press reports. eBay disclosed in a filing with the Securities and Exchange Commission on Thursday that the government is examining its changes in commissions and buyer's premiums and "discussions, agreements or understandings with other auction houses." The request stems from a federal investigation begun in 1997 of Sotheby's and Christie's, which together control 95 percent of the US $4 billion worldwide auction market. eBay warned shareholders that the cost of defending itself in the investigation could adversely affect earnings and divert management attention from its regular business. The company also said other suits could follow. This week, eBay revealed it had contacted police after bidders complained they had not received the merchandise from a California man doing business on the site. eBay says it gets complaints from about one in every 25,000 transactions. "A large number of transactions occur on the eBay Web site," the company said in its SEC filing. "As a result, the company believes that government regulators have received a substantial number of consumer complaints about the eBay Web site which, while small as a percentage of its total transactions, are large in aggregate numbers." ®

Internet Security Threat Report 2014

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
Hungary's internet tax cannot be allowed to set a precedent, says EC
More protests planned against giga-tariff for Tuesday evening
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Business security measures using SSL
Examines the major types of threats to information security that businesses face today and the techniques for mitigating those threats.