EToys.com

eToys.com is a retail website that sells toys via the Internet. Emarketer was once quoted as saying; "Put simply, eToys is the benchmark against which all other toy sites are measured."Fact|date=April 2007 In 1999, the company was involved in a high-profile dispute with Swiss art site etoy. EToys attempted to seize the etoy.com domain from etoy on the grounds that it was confusingly similar to its own domain, but it relented after widespread Internet outrage. [cite news
url=http://www.wired.com/news/politics/0,1283,33330,00.html
publisher=Wired
title=EToys Relents, Won't Press Suit
date=Dec 29, 1999] Like so many other "Dot-com" companies, the company that owned the eToys site filed for chapter 11 protection toward the end of the Internet bubble on March 7, 2001.

Unlike many CEOs of the time, when eToys finally did expire, CEO Toby Lenk went down with it still holding 10 million shares. Lenk also prevailed upon his senior team to follow his example of not selling their shares, hoping to save eToys by signaling confidence to Wall Street.

Nearly all the eToys assets were acquired by KB Toys in two separate bankruptcy auctions, then later sold to D.E. Shaw, a New York based hedge fund. Just prior to its final sale, lawyers on behalf of eToys filed a lawsuit in New York Supreme Court against Goldman Sachs for multiple securities violations. The suit, still pending a decision, is estimated at being worth up to $800 million.Fact|date=April 2007 Coupled with that, a shareholders group began privately investigating suspected wrongdoings by certain individuals and law firms overseeing the bankruptcy case. This group continues to pursue the matter in Federal Court.

The [http://www.etoys.com/ eToys.com] website was eventually reopened by eToys Direct Inc., a descendant of Internet startup and KB Toys partner Brainplay.com. It continues to market toys by mail order under the eToys name through both the website and printed catalogs.

References

External links

* [http://www.etoys.com/ eToys.com]