MLS & AssociationsTechnology

Zillow and Move settle trade secrets lawsuit for $130M

The lawsuit was scheduled to go to trial today
  • The deal resolves all claims in litigation that began with Move and its co-plaintiff, the National Association of Realtors, filing a lawsuit against Zillow and Zillow executive Errol Samuelson in March 2014 for misappropriation of trade secrets.

Archrivals Zillow and realtor.com operator Move Inc. have reached a settlement for $130 million after more than two years of bitter legal combat. Before the settlement, the case was scheduled to go to jury trial today. None of the parties admitted any liability, wrongdoing or responsibility in the settlement agreement, according to a Zillow Group public filing. The agreement stipulates Zillow will pay the funds in full by June 20. Move's co-plaintiff, the National Association of Realtors, is entitled to 10 percent of the settlement proceeds after deduction of Move's litigation-related costs and fees, with the remainder being paid to Move, according to a News Corp. public filing. Errol Samuelson The deal resolves all claims in litigation that began with Move and NAR filing a lawsuit against Zillow and Zillow executive Errol Samuelson in March 2014 for misappropriation of trade secrets, among other claims. Zillow executive Curt Beardsley was added to the suit a year...