Compass Faces $517 Million Risk From Realtors' Legal Settlement [BNN Bloomberg (Canada)]
Compass, Inc. Class A (COMP)
Company Research
Source: BNN Bloomberg
Buried in the more than 100-page agreement is a formula that says brokerages that haven't already settled with the plaintiffs will need to pay 0.25% of their average annual transaction volume — a potentially huge amount for firms such as Compass Inc. Compass, which reported an average volume of more than $200 billion over the last four years, would have to pay an estimated $517 million if it joins the settlement, according to research firm Capstone. That's more than three times the amount of the company's cash and cash equivalents at the end of last year, and more than 35% of its market capitalization. The settlement agreement provides an opportunity for brokerages to enter into mediation to arrive at a lower number. Brokerages could decide not to enter the settlement — potentially saving money now but leaving the firms open to future litigation risks. In another example, eXp World Holdings Inc., which has more than 87,000 agents, would owe an estimated $367 million, just under
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COMP
News
- Compass to Announce First Quarter 2024 Earnings on Wednesday, May 8PR Newswire
- With 41% stake, Compass, Inc. (NYSE:COMP) seems to have captured institutional investors' interest [Yahoo! Finance]Yahoo! Finance
- Compass agrees to pay $57.5 million, make policy changes to settle real estate commission lawsuits [Financial Post (Toronto, Ontario, Canada)]Financial Post
- NAR settlement can have a $517M price tag for Compass Inc., study says [Seeking Alpha]Seeking Alpha
- Citrone's Top 15 Stock Picks [Yahoo! Finance]Yahoo! Finance
COMP
Earnings
- 2/27/24 - In-Line
COMP
Sec Filings
- 4/18/24 - Form D
- 4/18/24 - Form DEFA14A
- 4/18/24 - Form DEF
- COMP's page on the SEC website