Realogy Holdings Corp.
| Company Name | Realogy Holdings Corp. |
| Stock Symbol | RLGY |
| Class Period | February 24, 2017 to May 22, 2019 |
| Lead Plaintiff Motion Deadline | September 09, 2019 |
On May 22, 2019, it was reported that the U.S. Department of Justice (“DOJ”) has been investigating the Company for potential anti-competitive practices related to residential real estate brokerage, focusing primarily on broker compensation and listing restrictions.
On this news, the Company’s share price fell $0.71, more than 9%, over two trading sessions to close at $7.13 on May 23, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company was engaged in anticompetitive behavior by requiring property sellers to pay the commissions of a buyer’s broker at an inflated rate; (2) that the Company’s anticompetitive actions would prompt the DOJ to open an antitrust investigation into the real estate industry’s practices regarding brokers’ commissions; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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