RE/MAX Holdings, Inc.
|Company Name||RE/MAX Holdings, Inc.|
On November 2, 2017, RE/MAX disclosed that its board of directors appointed a special committee "to investigate allegations concerning actions of certain members of the Company's senior management including an allegation of a previously undisclosed loan of personal funds from David L. Liniger, the Company's Co-Chief Executive Officer and Chairman, to Adam M. Contos, the Company's Co-Chief Executive Officer, and allegations of wrongdoing in employment practices and conduct." Consequently, RE/MAX "announced the Company will delay its third quarter 2017 earnings release and conference call pending further work in connection with the internal investigation."
On this news, RE/MAX’s shares fell $10.30, or 15.4%, to close at $56.40 on November 3, 2017, thereby injuring investors.
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