Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Realogy Holdings Corp. (“Realogy” or the “Company”) (NYSE: RLGY) securities between February 24, 2017 and May 22, 2019, inclusive (the “Class Period”). Realogy investors have until September 9, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Realogy investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
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.
If you purchased shares of Realogy, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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