BENSALEM, Pa., Aug. 29, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors of the upcoming September 9, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Realogy Holdings Corp. (“Realogy” or the “Company”) (NYSE: RLGY) securities between February 24, 2017 and May 22, 2019, inclusive (the “Class Period”).
Investors suffering losses on their Realogy investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On May 22, 2019, it was reported that the U.S. Department of Justice (“DOJ”) has been investigating the Company for potential anti-competitive practices related to residential real estate brokerage, focusing primarily on broker compensation and listing restrictions.
On this news, the Company’s share price fell $0.71, more than 9%, over two trading sessions to close at $7.13 on May 23, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company was engaged in anticompetitive behavior by requiring property sellers to pay the commissions of a buyer’s broker at an inflated rate; (2) that the Company’s anticompetitive actions would prompt the DOJ to open an antitrust investigation into the real estate industry’s practices regarding brokers’ commissions; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased shares of Realogy during the Class Period you may move the Court no later than September 9, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com