Zillow Pays $130M To Settle Trade-Secrets Lawsuit
Zillow says it will pay $130M to plaintiffs, including its competitor Move, to settle a 2014 lawsuit alleging misappropriation of trade secrets.
The claims go back to Errol Samuelson (pictured), who left Move to become chief industry development officer at Zillow. Move and the National Association of Realtors sued him and Zillow, alleging he took trade secrets with him. Zillow says the allegations are without merit, and asserted in a counterclaim that the plaintiffs released Zillow’s trade secrets, the Wall Street Journal reports.
Yet Zillow has agreed to pay the plaintiffs, despite admitting no wrongdoing, to finally resolve the matter and move forward. [WSJ]