NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court of New Jersey on behalf of those who acquired Realogy Holdings Corp. (“Realogy” or the “Company”) (NYSE: RLGY) securities during the period from February 24, 2017 to May 22, 2019 (the “Class Period”). Investors have until September 9, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that the Company failed to disclose that: (i) Realogy was engaged in anticompetitive behavior by requiring property sellers to pay the commissions of a buyer’s broker at an inflated rate; and (ii) Realogy’s anticompetitive actions would prompt the U.S. Department of Justice to open an antitrust investigation into the real estate industry’s practices regarding brokers’ commissions.
On March 11, 2019, it was reported that a lawsuit had been filed against several realtors, including Realogy, which alleged that the companies were violating antitrust laws. On this news, Realogy’s share price fell $0.21, or 1.7%, to close at $12.07 on March 12, 2019.
On April 18, 2019, it was reported that a second antitrust lawsuit had been filed. On this news, Realogy’s share price fell $0.57, or 4.4%, to close at $12.32 on April 22, 2019.
On May 22, 2019, it was reported that the DOJ had been investigating Realogy for potential anti-competitive practices related to residential real estate brokerage. On this news, Realogy’s share price fell $0.71, or 9%, over two trading sessions to close at $7.13 on May 23, 2019.
If you acquired Realogy securities during the Class Period, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
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