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February 11, 2002 9:00 AM PST
PayPal: Lawsuit designed to delay IPO
PayPal said Monday that it has filed a response to the lawsuit that kept if from making its initial public offering last week. CertCo, a privately held, New York-based online security company, filed a lawsuit alleging that PayPal's electronic payment system infringed one of its patents. The move caused PayPal to delay its IPO, which had been slated for Feb. 7.
In a filing with the Securities and Exchange Commission, PayPal called the lawsuit a deliberate attempt to "disrupt our initial public offering." The company also said its response to the lawsuit denies the claim, on the grounds that CertCo's patent was issued two years ago, and PayPal started offering its service for more than two years ago.
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If you have a problem with PayPal limiting your account, siezing your money for 180 days and and otherwise doing any unethical work, then go to the PayPal website click on the ABOUT US and find your state. see who they had to license thru, and SEND your complaint there. Airing in these public forums only gives you a false sense of good. Instead hit them where they do not want you to go ... Their licensed areas. This is the best palce to hit PayPal ... PayPal does not want you to write these entities, as they know loosing their license because of compalint s can shot that state down.... Do us all a favor and lets overload the system that works! This is in no way ment top be an attack, just sound and direct battle sttrategy
If you have a problem with PayPal limiting your account, siezing your money for 180 days and and otherwise doing any unethical work, then go to the PayPal website click on the ABOUT US and find your state. see who they had to license thru, and SEND your complaint there. Airing in these public forums only gives you a false sense of good. Instead hit them where they do not want you to go ... Their licensed areas. This is the best palce to hit PayPal ... PayPal does not want you to write these entities, as they know loosing their license because of compalint s can shot that state down.... Do us all a favor and lets overload the system that works! This is in no way ment top be an attack, just sound and direct battle sttrategy
Paypal has too much market share & they were a first-mover and they have the support of ebay which honestly makes them hard to replace.
While there is an 'ease of use' factor, Paypal is incredibly un-ethical in dealing with merchants, not just customers. If you think customers have it bad, try being a merchant. I have lost 6 figures due to paypal, and I would attack them in court if I had the resources to deal with them, but the debacle left me broke....