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Article: Released Documents Support LoopNet's Claims in Litigation Against CoStar Group, Offering Irrefutable Evidence of Unlawful Activity by CoStar.
- Article from:
- Real Estate Weekly News
- Article date:
- June 26, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LoopNet, Inc. (NASDAQ: LOOP), which operates the largest online commercial real estate marketplace, announced that the Superior Court of the State of California has recently unsealed documents in LoopNet's lawsuit against CoStar for unlawful copying and use of LoopNet data. In the recently unsealed documents, which CoStar had aggressively attempted to keep confidential and sealed, CoStar was forced to admit to engaging in systematic and orchestrated copying of customer and property listing data from the LoopNet website.
More specifically, the unsealed documents reveal that CoStar management directed as many as several hundred of its employees / researchers to run ...