Why Zillow has emerged stronger from the legal battle
Source: Reuters
Zillow shares rose about 2% on Wednesday after a major legal challenge from real estate brokerage Compass was dropped.
Compass had accused Zillow of using anti competitive practices over its home listing rules, but has now voluntarily dismissed the case, News.Az reports, citing CNBC.
The dispute centred on Zillow’s policy requiring listings to be posted on local multiple listing services within 24 hours of being publicly marketed.
A US judge had earlier rejected Compass’s request to block the policy, saying there was not enough evidence to show Zillow held monopoly power.
The end of the case removes a key uncertainty for Zillow and allows the company to continue its listing practices without further legal pressure.
By Faig Mahmudov
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