Zillow is set to pay $130 million in one of the most contentious online real estate cases in history. Zillow has agreed to settle with Move, which operates Realtor.com for the National Association of Realtors (NAR), according to a Securities and Exchange Commission filing.
As the settlement agreement explains:
It is understood and agreed that this is a compromise settlement of disputed claims and counterclaims and potential disputed claims and counterclaims... This settlement agreement is solely the result of a good faith compromise and settlement between the parties. Nothing contained herein is or is to be construed as an admission by any of the parties of liability, wrongdoing, or responsibility, and the parties deny any such liability or wrongdoing and continue to disclaim such responsibility.
The following details were gathered from news reports and the Securities and Exchange Commission filing:¹
“We are pleased to have reached an amicable resolution of this litigation,” Move said in a statement. “We look forward to putting the matter to rest and returning our full focus to simplifying the real estate process for consumers and the real estate professionals who serve them.”
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1“Zillow to pay $130M to settle lawsuit with Move over alleged trade secret theft” published in Housingwire, June 2016.