CoStar Group (CSGP) announced that it has prevailed in a trade secrets lawsuit brought by Move, Inc., the operator of Realtor.com. Andy Florance, Founder and Chief Executive Officer of CoStar Group, said: “Nine months later, after a warning from our lawyers about sanctions, Move folded. We did not settle. We didn’t pay a dime. Move simply capitulated. From the beginning, Move had no evidence linking CoStar Group to any trade secrets, and this dismissal proves it. This was a desperate, anticompetitive stunt to slow down Homes.com as we passed Realtor.com in the marketplace. We said we would win this case, and we did.”
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