Expedia 2009 Annual Report Download - page 42

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On December 21, 2009, Expedia, hotels.com, Hotwire and other online travel companies brought suit
against the city of New York Department of Finance and the city of New York. The complaint asserts two claims
for declaratory judgment challenging the constitutionality and legality of the law relating to New York City hotel
room occupancy taxes passed on June 29, 2009. Defendants’ answer is due on February 26, 2010.
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. The parties have settled the case and
the court has dismissed the lawsuit as part of the parties’ agreement.
In re ARC Venture Holding, Inc. On November 18, 2009, the Trustee in the ARC Venture Holding, Inc.
(Advantage Rental Car) bankruptcy filed an adversary complaint against Expedia, Inc. and Travelscape, LLC.
The complaint alleges preference payments by Advantage to Expedia and improper setoffs made by Expedia
prior to the bankruptcy filing. The total amount demanded is $3,084,974 plus interest. Trial is scheduled for
April 28, 2010.
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 2009.
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 January 29, 2010,
there were approximately 4,327 holders of record of our common stock and the closing price of our common
stock was $21.41 on NASDAQ. As of January 29, 2010, 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, 2009
Fourth Quarter ...................................................... $27.51 $21.95
Third Quarter ....................................................... 25.62 13.52
Second Quarter ..................................................... 17.65 8.82
First Quarter ....................................................... 10.35 6.31
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
Dividend Policy
On February 10, 2010, the Executive Committee, acting on behalf of the Board of Directors, declared a
quarterly cash dividend of $0.07 per share of outstanding common stock, the first dividend in our history.
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