The battle between the News Corp owned Move and Zillow continues to heat up. This time Zillow has received a temporary retraining order in the Superior Court against Move cancelling the listings feed from ListHub to Trulia.
The order lasts until March 12 when there will be a formal hearing on the matter.
Here is the SEC release ...
On February 19, 2015, Trulia, Inc. (“Trulia”), a wholly owned subsidiary of Zillow Group, Inc. (“Zillow Group”), received a notice from Move Sales, Inc. (“Move”) of Move’s intent to terminate the Platform Services Agreement, dated June 19, 2012, by and between Trulia and Move (the “Agreement”), effective February 26, 2015, as a result of Zillow Group’s acquisition of Trulia on February 17, 2015. Neither Trulia nor Zillow Group will incur any early termination penalties as a result of the Agreement’s termination.
On February 20, 2015, Trulia filed a complaint and an application for a temporary restraining order in the Superior Court of the State of California, County of San Francisco, against Move. The complaint and the application allege, among other things, breach of contract by Move in seeking to terminate the Agreement and seek injunctive relief to prevent termination of the Agreement and termination of the listings feeds Move provides to Trulia.
On February, 23, 2015, the Superior Court granted Trulia’s application for a temporary restraining order and set March 12, 2015 as the date for a hearing on a preliminary injunction on the matter.
As previously disclosed, Trulia entered into the Agreement in June 2012. Under the terms of the Agreement, Move granted to Trulia a nonexclusive license to display listings on Trulia’s platform and to use these listings for the purpose of providing real estate professionals with information relating to lead generation management and advertising products. The Agreement contains a 48-month term and renews automatically for additional one year terms unless canceled upon the provision of 90 days prior notice by either party. The Agreement is not cancelable by Move except in the case of material uncured breach by Trulia, Trulia’s filing for bankruptcy, insolvency or assignment for the benefit of creditors, if a receiver is appointed on Trulia’s behalf, or under certain other limited circumstances. The Agreement contains customary representations and warranties. The foregoing description of the Agreement is qualified in its entirety by reference to the full text of the Agreement, a copy of which was filed as Exhibit 10.13 to Trulia’s Amendment No. 1 to the Registration Statement on Form S-1, as filed with the Securities and Exchange Commission on September 7, 2012, which text of the Agreement is incorporated herein by reference.
On January 6, 2015, Zillow, Inc. (“Zillow”), a wholly owned subsidiary of Zillow Group, reported in a Current Report on Form 8-K that the Platform Services Agreement, dated April 7, 2011, by and between Zillow and Threewide Corporation, as predecessor in interest to Move, Inc., will expire on April 7, 2015.