CoStar is sparing no expense in its latest copyright lawsuit.
The DC-based commercial real estate data firm expects to spend up to $20M this year on the lawsuit it brought against competitor Xceligent in December, The Real Deal reports. CoStar already spent $3M on the suit in Q1 and expects to spend at least $4M in Q2, the company's chief financial officer said on a recent earnings call.
In the lawsuit, CoStar alleges its competitor stole and resold copyrighted data and photos more than 10,000 times. The suit comes as Xceligent is preparing to launch in New York City.
Xceligent CEO Doug Curry called the lawsuit, which alleges Xceligent stole north of $6B worth of intellectual property, "entirely without merit" after it was filed.
