Realogy Accused Of Hiding Antitrust Conduct From Investors
Law360 (July 11, 2019, 6:47 PM EDT) -- Realogy Holdings Corp. was slapped Thursday with a proposed securities class action in New Jersey federal court claiming the company failed to disclose its purportedly anti-competitive conduct regarding commissions paid to real estate brokers, leading investors to pay “artificially inflated and distorted” stock prices.
Realogy — the company behind real estate brands like Coldwell Banker and Century 21 — filed reports with the U.S. Securities and Exchange Commission in recent years that did not disclose how the business “was engaged in anticompetitive behavior by requiring property sellers to pay the commissions of a buyer’s broker at an inflated rate,” the complaint...
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