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Move sues former VP, Curt Beardsley, alleging illegal stock dump

(Business News) After nearly a decade at Move, Curt Beardsley made a questionable exit alongside former boss, Errol Samuelson. Move has responded with a serious lawsuit, seeking substantial damages.

court justice

court justice

(REALUOSO.COM) – The other shoe has dropped as Move, Inc. has just filed a lawsuit against Curt Beardsley, former VP of Product Marketing at Move, who defected to become the VP of Industry Development at Zillow. Beardsley followed Errol Samuelson’s (Move’s former president of and Chief Strategy Officer at Move) exit from Move to Zillow, both of which were highly controversial.

According to the suit, filed with the Superior Court of California in Los Angeles County, Beardsley is being sued not only for breach of contract, but for violation of corporations code.

Move and the National Association of Realtors sued Samuelson, and it appears that Move alone has filed a similar lawsuit against Beardsley, as we projected months ago would happen.

The allegations assert that in his nine years at Move, Beardsley never exercised his option to sell his stock options or grants, until he learned “non-public, inside information that legally prohibited him from selling that stock.” He sold most of his Move stock (33,775 shares for roughly a $224,000 gain) when he learned the secret…

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Lani is the COO and News Director at The American Genius, has co-authored a book, co-founded BASHH, Austin Digital Jobs, Remote Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.

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