Published on 7 Jun 2016
Shares
of Zillow traded higher in Tuesday's session after the online
real-estate database announced it had reached a settlement with rival
Move. The settlement deal averts a trial which would've taken place
later this month. Move and the National Association of Realtors were
seeking up to $2 billion in damages over allegations that Zillow
executives brought trade secrets with them when they left Move in 2014.
Zillow settled the suit for just $130 million dollars. On word of the
settlement, Barclays upgraded Zillow's shares to EQUAL WEIGHT from
UNDERWEIGHT. The firm also raised the stock's price target to $32 from
$20. This year, Zillow shares are up 37 percent.
http://www.4-traders.com/ZILLOW-GROUP-INC-20814107/
http://www.4-traders.com/ZILLOW-GROUP-INC-20814107/
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