LOS ANGELES–(BUSINESS WIRE)–$RLGY #CLASSACTION—Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired 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.
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected], or visit our website at www.glancylaw.com.
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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If you purchased shares of Realogy during the Class Period you may move the Court no later than September 9, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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