eBay fined $62m

eBay has been fined $62m (approx £31m) for “allowing the sale of counterfeit goods” by French courts. The money was awarded to the LVMH (Louis Vuitton and Moet Hennessy) group which owns the Louis Vuitton, Christian Dior, and Givenchy brands. It is well known that counterfeit goods have been sold on eBay for a while- however this is only the second time eBay has been successfully sued and is by far the largest amount. Maybe this will force eBay to rethink its claim of being “just” a middle man.