BrokerageIndustry News

Realogy puts Homestore behind it

Settlement extricates Realogy, CEO from legal battle
Published on Aug 31, 2009

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Realogy Corp. and Chief Executive Officer Richard A. Smith have extricated themselves from a legal battle over the alleged role of their former parent company in one of the most notorious episodes of the dot-com bust.

Smith and Realogy's former parent company, Cendant Corp., were accused in a class-action lawsuit of concealing the reciprocal nature of deals that allegedly helped Cendant's business partner, Homestore.com, claim revenue growth that artificially inflated the company's share price.

Comments