/ July 6, 2008

eBay in Trouble Overseas

eBay found itself in hot, international, water this week as the company was held liable for millions of dollars in damages to one of the world’s largest luxury brands. Moet Hennessy-Louis Vuitton, the group responsible for names such as Louis Vuitton, Christian Dior and even Moet champagne, pressed charges against the online auctioneer for insufficient protection against the sale of fraudulent goods. LVHM claimed that eBay has allowed the sale of counterfeit goods in order to rake in commissions on the transactions.A French court this week found the internet giant liable and assessed damages of $61 million. Although this is not the first time eBay has been subject to these charges, the company has already announced its appeal.Source: NYtimes.com

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