Sunday, April 3, 2016

Corporate Espionage: Move to Zap Zillo for $2 Billion

One of the most contentious fights in the history of real estate listings is going nuclear, thanks to a “staggering” claim of damages from Move in its trade secret theft lawsuit against Zillow.

According to legal documents obtained by HousingWire, Move, which operates for the National Association of Realtors, is claiming that Zillow owes the company $2 billion in damages over allegations of trade secret theft involving Errol Samuelson, who was once Move's chief strategy officer...

Move filed suit against Zillow after Samuelson left, alleging that Samuelson and Zillow stole trade secrets and proprietary information, and that they then made efforts to cover up the alleged theft...

The original lawsuit alleged breach of contract, breach of fiduciary duty and misappropriation of trade secrets and accused Samuelson of misappropriating trade secret information by acquiring it using improper means, and by copying it without authorization.

“Plaintiffs (Move) have asserted a huge case,” Zillow notes in the legal filing. “They claim $2 billion in damages, assert 46 separate trade secrets (not including the 1000-plus documents claimed as trade secrets in their entirety) and have assigned at least 29 different lawyers to prosecute their claims.”  more