eBay issued a press release stating it has filed a lawsuit to challenge recent transactions implemented by Craigslist's board of directors (Craig Newmark and Jim Buckmaster) and to safeguard its four-year financial investment in the classifieds website.

eBay acquired a minority ownership interest in Craigslist in 2004 - eBay said 28.4 percent. eBay complains that in January of this year, Newmark and Buckmaster adopted measures that, "among other things, unfairly diluted eBay's economic interest in Craigslist by more than 10 percent. By taking these unilateral actions, eBay believes that Newmark and Buckmaster breached their fiduciary duties in violation of Delaware corporate law."

eBay said it is asking the Delaware court to rescind the recent actions in order to protect eBay's stockholders and preserve its investment. The complaint is being filed under seal because some of the information about Craigslist contained in the complaint is governed by confidentiality restrictions.

We're waiting to hear back from Craigslist's PR person for comment.