MADISON,
N.J., May 9, 2024 /PRNewswire/ -- Anywhere
Real Estate Inc. (NYSE: HOUS) ("Anywhere"), a global leader in
residential real estate (formerly known as Realogy Holdings Corp.),
today announced the Company has received final court approval of
its nationwide agreement to settle all claims asserted or which
could have been asserted by class members against Anywhere in the
Burnett, Moehrl, and Nosalek antitrust class action litigation. The
nationwide settlement releases the Company, all subsidiaries,
brands, affiliated agents, and franchisees and their agents from
ongoing and future litigation surrounding the antitrust claims.
"I am pleased the court has granted Anywhere final approval of
our nationwide settlement," said Ryan
Schneider, Anywhere chief executive officer and
president. "This is a significant milestone on our path to put
these claims behind us, begin to implement agreed upon practice
changes, and move forward with our affiliated agents and
franchisees as, together, we continue helping home buyers and
sellers move to what's next."
In the settlement, which was first announced in October 2023, Anywhere agreed to provide monetary
relief of $83.5 million as well as
injunctive relief requiring practice changes in Anywhere Advisors,
the Company's owned brokerage operations, which includes Coldwell
Banker Realty, Corcoran, and Sotheby's International Realty, for a
period of five years. Anywhere has also agreed to recommend and
encourage these same practice changes to its independently owned
and operated franchise network across the Better Homes and
Gardens® Real Estate, CENTURY 21®,
Coldwell Banker®,
Corcoran®, ERA®, and Sotheby's International
Realty® brands.
The settlement is not an admission of liability, nor does it
concede or validate any of the claims asserted against
Anywhere.
The releases by the sell-side class members will not eliminate
the pending buy-side litigation, but will reduce the size of the
potential, as yet uncertified, class by eliminating claims for
buy-side damages by those individuals who also sold a property and
are covered by the Anywhere settlement.
About Anywhere Real Estate Inc.
Anywhere Real Estate Inc. (NYSE: HOUS) is moving the real estate
industry to what's next. A leader of integrated residential real
estate services, Anywhere includes franchise, brokerage,
relocation, and title and settlement businesses, as well as
mortgage and title insurance underwriter minority owned joint
ventures. The diverse Anywhere brand portfolio includes some of the
most recognized names in real estate: Better Homes and Gardens®
Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker
Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®.
Using innovative technology, data and marketing products,
high-quality lead generation programs, and best-in-class learning
and support services, Anywhere fuels the productivity of its
approximately 188,300 independent sales agents in the U.S. and
approximately 134,200 independent sales agents in 118 other
countries and territories, helping them build stronger businesses
and best serve today's consumers. Recognized for 13 consecutive
years as one of the World's Most Ethical Companies, Anywhere has
also been designated a Great Place to Work six years in a row,
honored on the Forbes list of World's Best Employers for three
years, named one of America's Most Innovative Companies by Fortune
for two years, and featured on the inaugural TIME World's Best
Companies list.
Investor
Contacts:
|
Media
Contacts:
|
Alicia Swift
(973) 407-4669
alicia.swift@anywhere.re
|
Trey Sarten
(973) 407-2162
trey.sarten@anywhere.re
|
|
|
Tim Swanson
(973) 407-2612
tim.swanson@anywhere.re
|
Gabriella Chiera
(973) 407-5236
gabriella.chiera@anywhere.re
|
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SOURCE Anywhere Real Estate Inc.