BrokerageIndustry News

Realogy quietly exits Homestore scandal

Lawsuit alleged 'incestuous' relationship with Realtor.com operator
Published on Sep 1, 2009

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by CareyBot

When circular deals that artificially pumped up the revenue of Realtor.com operator Homestore during the dot-com boom unraveled, the crash of the company's stock and subsequent criminal trial of founder and former Chief Executive Officer Stuart Wolff grabbed headlines.

Nearly a decade later, Cendant Corp. has quietly become the last company accused of helping Homestore inflate its revenue to settle with Homestore investors, who filed a class-action lawsuit in December 2001.

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