What's the deal with the PayPal lawsuit?

I recently won an auction on Ebay, and the chap selling the item sent me an email detailing the payment arrangements. No surprises there. However, his message had a blurb at the bottom with a link to something called “paypalsucks”. Here is the text of the blurb:

So what are the details concerning this lawsuit?

(I disabled the link since I have no idea if it’s safe.)

Here is a link to Wikipedia articles about Paypal, and Article on Something Awful and another site detailing just why people are up in arms at PayPal right now. From my understanding of things, people were getting ripped off by PayPal before this though.

Adding, see the “Hurricane Katrina” sections of both the Something Awful, and the PayPal articles to understand people’s ire.