Zillow Inc (Z) hit with lawsuit by Realtor association and Move

Posted Mar 18, 2014

Online real estate service Zillow Inc (NASDAQ:Z) has been sued by Move and the National Association Of Realtors for poaching the former president of Realtor.com. Move is the company that runs Realtor.com and moving.com. Zillow hired former Realtor president Errol Samuelson as its chief industry development officer. Move is suing for breach of contract, breach of fiduciary duty, and misappropriation of trade secrets.

?At Move, we take our trade secrets and intellectual property extremely seriously as a valuable asset in our competitive position in the marketplace,? stated Move?s CEO Steve Berkowitz. ?We take action in cases in which we believe our trade secrets have been compromised. We have raised this matter for the courts and believe that the matter will be resolved judiciously.? Other plaintiffs named in this case include RealSelect, Inc., Top Producer Systems Company, and Realtors Information Network, Inc.

Zillow hired Samuelson less than two weeks ago. Move promoted Samuelson to chief strategy officer in April 2013. Samuelson joined Move in 2003 and was named Realtor.com president in 2007.

Zillow also named Curt Beardsley as its VP of industry development. Beardsley used to be the executive vice president of industry development of Move. Beardsley will be responsible for strengthening Zillow’s partnerships with multiple listing services (MLSs). Beardsley was promoted at Move to take on Samuelson?s role on the day of his departure.

[Source: TC]