Opendoor to pay $62 million for misleading home sellers [Yahoo! Finance]
Opendoor Technologies Inc (OPEN)
Company Research
Source: Yahoo! Finance
The real estate company settled a lawsuit claiming it misled sellers into selling their houses for a lower price than what they may have been able to get on the open market. The FTC said the average refund will be about $1,024, according to the Commission's refund tracker. Over the past decade, Opendoor has become one of the most high-profile instant-buyer real-estate companies, which are also known as iBuyers. These firms buy homes from homeowners directly, rather than serving as a broker on the open market between sellers and other buyers. Opendoor had "claimed to use cutting-edge technology to save consumers money," the FTC said, by "submitting offers at market value" and "reducing transaction costs compared with the traditional home sales process." But the commission said that was deceptive because home sellers were misled into thinking that they could make more money by selling with Opendoor than by selling traditionally, on the open real-estate market. "In reality, mo
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News
- Opendoor Technologies First Quarter 2024 Earnings: Beats Expectations [Yahoo! Finance]Yahoo! Finance
- Why Opendoor Stock Was Soaring Today [Yahoo! Finance]Yahoo! Finance
- Why Is Opendoor (OPEN) Stock Rocketing Higher Today [Yahoo! Finance]Yahoo! Finance
- Opendoor Technologies Inc. (NASDAQ:OPEN) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Opendoor (NASDAQ:OPEN) Surprises With Strong Q1, Stock Jumps 10.9% [Yahoo! Finance]Yahoo! Finance
OPEN
Earnings
- 5/2/24 - Beat
OPEN
Sec Filings
- 5/2/24 - Form 4
- 5/2/24 - Form 3
- 5/2/24 - Form S-3ASR
- OPEN's page on the SEC website