Expedia 2008 Annual Report Download - page 41

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CRS Marketing, Services and Development Agreement and all amendments thereto. See Expedia. Inc. v.
Worldspan, L.P., (King County Superior Court). Worldspan answered the lawsuit on August 15, 2006, denying
the allegations. The parties have settled the lawsuit. The court dismissed the case on August 14, 2008.
Ryanair Limited v. Travelscape, LLC. On or about May 9, 2008, Ryanair filed a lawsuit against
Travelscape, LLC in London claiming breach of the parties’ Marketing Agreement entered into on March 21,
2007. See Ryanair Limited v. Travelscape, 2008 Folio 453 (In the High Court of Justice, Commercial Court).
On July 9, 2008, Travelscape filed its defense and a counterclaim, denying Ryanair’s allegations and asserting
its own claim for breach of the parties’ Marketing Agreement. On October 14, 2008, Ryanair provided
Travelscape with a “notice of intention to terminate” the parties’ Marketing Agreement. Trial is scheduled for
November 16, 2009. Travelscape believes that Ryanair’s claims lack merit and will continue to vigorously
defend against them. In addition, Travelscape will continue to vigorously assert its claims against Ryanair.
Part I. Item 4. Submission of Matters to a Vote of Security Holders
There were no matters submitted to a vote of our security holders during the fourth quarter of 2008.
Part II. Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer
Purchases of Equity Securities
Market Information
Our common stock is quoted on the NASDAQ Global Select Market under the ticker symbol “EXPE.”
Our Class B common stock is not listed and there is no established public trading market. As of February 13,
2009, there were approximately 4,645 holders of record of our common stock and the closing price of our
common stock was $9.17 on NASDAQ. As of February 13, 2009, all of our Class B common stock was held
by a subsidiary of Liberty.
The following table sets forth the intra-day high and low prices per share for our common stock during
the periods indicated:
High Low
Year ended December 31, 2008
Fourth Quarter .................................................. $15.36 $ 6.00
Third Quarter ................................................... 20.42 13.61
Second Quarter.................................................. 25.50 18.31
First Quarter.................................................... 31.88 20.18
High Low
Year ended December 31, 2007
Fourth Quarter .................................................. $35.28 $27.48
Third Quarter ................................................... 32.57 25.45
Second Quarter.................................................. 29.85 22.44
First Quarter.................................................... 23.34 19.97
Dividend Policy
We have not historically paid cash dividends on our common stock or Class B common stock. Declaration
and payment of future dividends, if any, is at the discretion of the Board of Directors and will depend on,
among other things, our results of operations, cash requirements and surplus, financial condition, share dilution
management, legal risks, capital requirements relating to research and development, investments and acquisi-
tions, challenges to our business model and other factors that the Board of Directors may deem relevant. In
addition, our credit agreement and high yield indenture limit our ability to pay cash dividends under certain
circumstances.
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