Reported about 1 year ago
Andy Florance, CEO of CoStar Group, dismissed Move, Inc.'s trade secret lawsuit against his firm as a 'PR stunt.' Florance believes the lawsuit is motivated by Realtor.com's recent struggles and the competition in the real estate industry 'portal wars' between CoStar's Homes.com, Zillow, and Realtor.com. He criticized Realtor.com's 'lead diversion' business model and suspects the lawsuit is an attempt to create confusion. The lawsuit was filed accusing a former Realtor.com employee of stealing trade secrets for Homes.com, but CoStar stands by the employee, saying he is just an editor, not an executive officer, and branding the lawsuit as 'silly and pathetic.'
Source: YAHOO