eBay Fined ~$63M for Counterfeit Goods

eBay is on the hook for about $63 million to LVMH Malettier, the parent company of Louis Vuitton and other exclusive brands, as ordered by a French court. The popular online auction site was found liable for sellers offering counterfeit goods "This decision is not based on combating counterfeit material. It is based on LVMH's desire to protect its commercial practices and exclude competition," said a spokeswoman for eBay in Paris. "This is being done at the expense of the consumers and sellers to whom eBay is always offering opportunities,"... [read full story]