MLS & AssociationsTechnology

Zillow could owe $2B in damages, Move and NAR allege

Zillow says damages claim is 'staggering'
  • Move and the National Association of Realtors claim Zillow and two of its execs are liable for $2 billion in damages.
  • That figure may take into account Zillow's alleged foiling of a merger between Move and Trulia and of Move's real estate platform strategy.
  • Zillow's attorneys claim the trade secrets claimed by Move and NAR in the suit are overly "broad" and based on information that has already been publicly disclosed.

Zillow could be in for a whopper of a bill in the two-year-old litigation between the company and its biggest rival, realtor.com operator Move Inc. Move and its co-plaintiff, the National Association of Realtors (NAR), claim that Zillow and two of its executives are liable for $1.77 billion in damages due to misappropriation of trade secrets, among other claims. Zillow's co-defendants are Errol Samuelson and Curt Beardsley, former Move employees who joined Zillow in March 2014. The damages claim is just over 40 percent of Zillow Group's current market cap: $4.2 billion. Errol Samuelson "The scope of this case -- and damages claim -- is staggering," attorneys for Zillow, Samuelson and Beardsley said in a legal filing publicly released today. In that filing, the defendants' attorneys say many of the "thousands" of alleged trade secrets Move and NAR claim were misappropriated are overly "broad" and based on information that has already been publicly disclosed. ...