NAR settlement can have a $517M price tag for Compass Inc., study says [Seeking Alpha]
Compass, Inc. Class A (COMP)
Company Research
Source: Seeking Alpha
to keep agent commissions artificially high by having the home seller pay for the real estate agent's commissions for both the buyer and the seller. There could be a hefty price tag for real estate brokerages that haven't already settled with plaintiffs. They'll need to pay 0.25% of their average annual transaction volume, according to a formula buried in the more than 100-page document. For Compass Inc. ( NYSE: COMP ), that would come to an estimated $517M if it joined the settlement, Bloomberg reported, citing data from Capstone LLC, a policy analysis and regulatory due diligence firm. The figure is based on Compass's average volume of more than $200B over the last four years. If accurate, the $517M total would be more than triple its cash and cash equivalents at the end of 2023 and 35% higher than its market capitalization, Bloomberg said. Brokerages could decide not to join the settlement, but they could be facing future litigation risks. Another brokerage firm, eXp World
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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
- Compass Faces $517 Million Risk From Realtors' Legal Settlement [BNN Bloomberg (Canada)]BNN Bloomberg
- 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