Lawsuit accuses Urban Compass of stealing trade secrets

New York City-based Urban Compass, a 1-year-old broker that was valued at $360 million in a recent funding round, is being sued for the second time in two months, The Real Deal reports.

Rival Citi Habitats claims individuals at Urban Compass’ office accessed its proprietary listing database without authorization. Urban Compass told The Real Deal that it “expressly denies” all the allegations made by Citi Habitats.

In July, Avi Dorfman sued Urban Compass, alleging that the company used his proprietary software and real estate expertise to build its service without giving him the ownership stake in Urban Compass that he was promised, The Real Deal reported.

Source: The Real Deal