CRE Source: Let's Get Ready to Rumble: CompStak, CoStar Scheduled To Battle It Out In Court

by ADMIN on April 23, 2014.

CompStak, the crowdsourcing site that CoStar Group says is using its proprietary data, will appear before the court on Thursday after the judge agreed to reconsider its order requiring the firm to turn over names of defendants who CoStar claims stole its information, according to rew-online.com.

CompStak CEO Michael Mandel says the data CoStar claims was stolen is readily available in press releases and broker market reports. Mandel says a press release on four Washington, D.C. lease transactions from May 2011 included square footage that Costar claimed it had planted as a fake. Mandel also claimed to have found the same seeded figure in a quarterly report by Jones Lang Lasalle.

Mandel says he has contacted the FTC because he believes CoStar’s suit is nothing more than scare tactic to prevent professionals from sharing information on this site. Mandel believes this violates the anti-competitive rules the FTC established for CoStar to move forward with its LoopNet merger.

Regina Glick

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