CBRE Group Inc. settled a lawsuit filed in July 2017 against two former employees and rival real estate brokerage firm Hughes Marino, the Puget Sound Business Journal reported, citing John Miller, CBRE's Puget Sound region leader.
In the lawsuit, CBRE claimed that former brokers Owen Rice and Gavin Curtis stole proprietary and confidential information when they left CBRE's Puget Sound region operation to open a Seattle office for Hughes Marino, according to the report.
In a company release, Hughes Marino co-owner and CEO Jason Hughes said: "CBRE knew the suit was meritless against Hughes Marino from the get-go, and used it as an attempt to give our company a black eye in the community."
CBRE spokesman Robert McGrath, in a written statement to the publication, said the defendants were required to return or delete CBRE's property and cover prosecution-related costs. Hughes Marino, however, said it owes no money to CBRE.
In March, CBRE also filed a lawsuit against Richard Rizika, a former vice chairman of the retail group, who CBRE alleged to have stolen trade secrets before leaving in February to set up his own brokerage firm.