- The court held that certain eBay directors and officers usurped a corporate opportunity by taking lucrative IPO offerings made by Goldman Sachs, an investment bank that regularly did business with eBay.
- Defendants argue that this means every investment opportunity that comes to an officer or director will be considered a corporate opportunity.
- On the contrary, the court believes these circumstances to be quite unique.
- Goldman Sachs was offering these highly profitable opportunities to maintain and secure corporate business (basically bribing eBay for future business).
- This was not a case of merely “a broker’s investment recommendations” to a wealthy client.
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