Andrea Brambila reporting for Inman News
Zillow and Move settle trade secrets lawsuit for $130M
$130 million smackaroos is all it took.
“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.
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.”
All I can say is thank goodness. This was a huge distraction for everyone involved. I’m so happy for Errol, Curt and their families. This had to cause such undue stress on all involved.
I hoping that everyone involved can move forward and forgive and forget. I thought is was bullshit when MOVE and NAR first filed the lawsuit against Errol, especially in an industry where people seem to move from different companies on a regular basis.
But, I was also worried about Zillow’s timing and the aggressive way that they hired Curt. It seemed pretty ruthless.
This industry needs as many smart people involved in the conversation as possible. So NAR, let Zillow Group participate in trade shows and events.
Zillow, the last time I saw Spencer give a talk they asked him what was one of things he would have changed in the past. He said he would have reached out more to the industry. Well, you talked the talk, now walk the walk.
I’m also excited to see what is on the horizon for online real estate. You can bet the competition between MOVE, Zillow Group, Redfin and other is going to be fierce.
I glad were are back to innovation instead of spoliation.
