Following on the heels of hedge fund investor Third Point’s recent demand that CoStar Group exit its Homes.com-led residential business entirely, a second hedge fund investor, the New York City-based D.E. Shaw Group, has voiced the same opinion. Even with CoStar firing back at Third Point, saying its demands reflect “their complete misunderstanding of our…
As the corporate infighting continues between CoStar Group and billionaire investor Daniel Loeb’s hedge fund Third Point, with Third Point on Jan. 27 announcing it would seek to replace a majority of CoStar’s eight-person board, CoStar responded with a lengthy statement released on Jan. 28 highlighting new planned initiatives. “The CoStar Group Board of Directors…
Billionaire investor Daniel Loeb’s hedge fund Third Point has launched a proxy fight against CoStar Group, nominating multiple directors to the company’s board and demanding the real estate giant exit its residential business entirely. In a letter released this morning, Third Point announced it would seek to replace a majority of CoStar’s eight-person board, marking…
CoStar, just under two years after launching what it described as the largest marketing campaign in real estate history to promote Homes.com, said yesterday that 2026 will see “meaningful moderation” in its investment in the portal, after some early stumbles sparked pushback from shareholders. In a press release, CoStar Founder and CEO Andy Florance promised…
In a switch-up from the company’s previous stance, CoStar has filed an agreement to move its copyright infringement lawsuit against Zillow to Seattle, Washington. In a notice of non-opposition filed Dec. 2, CoStar stated it agrees to transfer the case to the Western District of Washington “in light of new information disclosed by Zillow in…
Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. CRMLS-affiliated vendor REcore and CoStar lawsuit quickly resolved CRMLS, the second-largest MLS in the country sued CoStar on Oct. 21 over a dispute related to an alleged breach of contract with its licensing…
CoStar is providing a more forceful—and specific—pushback against accusations by Zillow that the company’s 3D home tour subsidiary, Matterport, blocked users from uploading tours on third-party websites, as earlier this week, one of the nation’s largest MLSs sought to remove CoStar-created media, before quickly reversing course. After Zillow on Monday removed Matterport tours from its…
A lawsuit filed Oct. 21 in San Bernardino County, wherein REcore Solutions LLC—the vendor who provides licensing services for California Regional Multiple Listing Service (CRMLS) and other MLSs—claimed breach of contract relating to failed payment against Homes.com and its parent company CoStar Group, has been dismissed with prejudice, meaning CRMLS cannot file a new lawsuit…
Homes.com and CoStar Group have become embroiled in another lawsuit, this time as the defendants, over an alleged breach of contract. REcore Solutions LLC—the vendor who provides licensing services for California Regional Multiple Listing Service (CRMLS) and other MLSs—announced it has filed a lawsuit in San Bernardino County against Homes.com and its parent company CoStar…
In a hearing today for the copyright lawsuit filed by CoStar against Zillow, Judge Edgardo Ramos of the Southern District of New York ordered both parties to submit more detailed arguments regarding the proper venue for the lawsuit, with CoStar previewing how it will allege Zillow is responsible for what the company claimed “may be…
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