Jun. 23 at 4:37 PM
$COMP $Z $ZG
Compass sues Zillow over 'anticompetitive tactics' to protect 'monopoly'
Compass (COMP) filed a lawsuit against Zillow Group (Z, ZG) in the Southern District of New York. "Instead of competing on the merits for home sellers, home buyers, and the agents who work for them, Zillow has sought to rely on anticompetitive tactics to protect its monopoly and revenues in violation of the antitrust laws," Compass claims in the lawsuit.
The company adds, "To protect its market dominance, Zillow has retaliated against competitive threats by enacting an exclusionary policy, its Listing Access Standards, and conspiring with at least two of its competitors to work toward a common end: block those, like Compass, who are bringing innovation and competition through pre-marketing strategies to the real estate home search market."
