Zillow Agrees to Pay $130M to its Industry rival Move (Operated by Realtor.com), NAR by June 20th

The settlement Ends a 2-Year Contentious Litigation alleging stolen trade secrets and destruction of documents by 2 high executives of Zillow who were former employees of Move; the amount is less than the $2 Billion originally claimed by Move in damages.

According to the SEC the filing states that the parties have agreed to dismiss all claims and counterclaims with prejudice, and the settlement agreement does not contain any admission of liability, wrongdoing, or responsibility by any of the parties.

Both Zillow and Move said to be pleased with the amicable resolution which will allow the companies to put the litigation behind them and focus on innovation and customer satisfaction.

Source. www.Rismedia.com