HousingWire is reporting that one of the “most contentious battles in history of online real estate” is finally over. Zillow has announced that a settlement was reached with Move over allegations of theft of trade secrets by two of its former executives who later joined Zillow.
“According to a Securities and Exchange Commission filing, Zillow will pay Move, which operates Realtor.com for the National Association of Realtors and owned by News Corp, a total of $130 million to settle allegations that Errol Samuelson, who was once Move’s chief strategy officer, stole trade secrets and proprietary information from Move before joining Zillow in 2013. The settlement amount is far less than Move initially wanted, as Move originally claimed that Zillow owed the company $2 billion in damages.”
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