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MLS CEO Kicked to the Curb

Chicago MLS CEO Jay Huffman was terminated Tuesday without cause according to his lawyer Karen Levine.

Levine says that there was no statement of wrongdoing when Huffman was fired during a special board group meeting.

Huffman’s termination comes after months of bickering within the Multiple Listing Service of Northern Illinois over internal issues and an expensive audit.

Huffman was at the center of the controversial forensic audit that was done by PriceWaterHouseCoopers. The audit allegedly cost the MLS close to half a million dollars and was ordered by the company’s shareholders after financial reports arrived late.

Controversy began to surround Huffman after shareholders took issue with the fact that MLSNI invested in a company run by Huffman’s wife called Real Estate Business Information Group (or REBIG). REBIG is a Chicago company that assists the MLS with data licensing. The investment in REBIG by MLS was called a conflict of interest by shareholders.

To spite the opinions of some shareholders the audit is said to have shown no evidence of fraud when it comes to MLSIN and REBIG.

Huffman’s lawyer will not say whether or not he has received a severance package.

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