eXp World Holdings Inc (EXPI) has released an update to notify the public and investors about a regulation fd disclosure.
On January 25, 2024, a class action lawsuit was initiated against the National Association of Realtors and various associated entities, including eXp Realty, in the District Court for the District of Nevada. The suit accuses the defendants of violating federal antitrust and Nevada unfair trade practices laws by conspiring to fix and inflate real estate commissions. The plaintiff, representing home sellers who paid commissions since January 15, 2020, seeks injunctive relief, damages, and legal costs. eXp World Holdings, Inc. acknowledges the potential for further antitrust litigation and cannot guarantee that such proceedings won’t negatively impact its financial status.
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For a comprehensive understanding of the announcement, you can read the full document here.
