Skip to main content

Zillow Pays $130M to Settle Move Lawsuit

Phil Hall
Jun 07, 2016
A former loan officer at a Los Angeles-based community bank that pocketed more than $350,000 in kickbacks in exchange for considering mortgage applications submitted by churches in relation to a fraud scheme

Zillow has agreed to pay $130 million to settle a lawsuit that claimed two of its recent executive hires stole trade secrets from Move Inc.

The Seattle Times reported that the settlement was disclosed in a securities filing and that the agreed-upon sum was far below the $1.8 billion being sought by Move, which is owned by Rupert Murdoch’s News Corp. Move’s lawsuit centered on two of its former executives, Errol Samuelson and Curt Beardsley, who joined Zillow in 2014. Move asserted that its former executives used confidential information that enabled Zillow to acquire Trulia that year, a charge Zillow denied.

The National Association of Realtors was a party to the lawsuit and will receive 10 percent of the settlement proceeds. Both Move and Zillow, which did not admit to wrongdoing in its settlement, issued statements that called the agreement an “amicable resolution” of their differences. 

Jun 07, 2016
Mortgage Forbearance Changes Create Challenges for Servicers

65% Of All Plans Would Expire By The End of 2021

Regulation and Compliance
Aug 02, 2021
CFPB Reports Trends In Financial Assistance

The latest developments from this study reveal that most consumers have exited the payment assistance they received at the start of the pandemic.

Analysis and Data
Jul 14, 2021
CFPB Orders GreenSky To Refund $9M In Unauthorized Loans

The consent order requires GreenSky to refund or cancel up to $9 million in loans for the customers harmed by this illegal conduct.

Regulation and Compliance
Jul 13, 2021
CFPB Warns Landlords And Consumer Reporting Agencies To Report Accurate Rental Information

Inaccurate rental or eviction information can unfairly block families and individuals from safe, affordable housing.

Regulation and Compliance
Jul 01, 2021
FHFA Mandates Quarterly Fair Lending Reports

FHFA issued orders for all enterprises to submit quarterly Fair Lending Reports with data and information to improve the FHFA’s capabilities. 

Regulation and Compliance
Jul 01, 2021
FHFA Follows CFPB To Protect Borrowers Once COVID-19 Foreclosure And Eviction Moratoriums End

The Federal Housing Finance Agency made it clear that Fannie Mae and Freddie Mac servicers are not permitted to make first notice or filing for foreclosure that would be prohibited by the CFPB protections for borrowers affected by COVID-19.

Regulation and Compliance
Jun 30, 2021