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NEW YORK - Shares in Douglas Elliman, Redfin, Compass and eXp World Holdings fell on Wednesday after they were sued for allegedly conspiring to artificially inflate their commissions from home sales.
A spokesperson for eXP said the company was still studying the complaint, adding:"We are committed to upholding fair and transparent practices compliant with law and we already have mechanisms and a plan in place that enables buyers and sellers to negotiate commissions." BTIG analyst Soham Bhonsle in an investor note said the fact that Douglas Elliman, Redfin, Compass and eXp were being sued by the same lawyers was a negative for their stocks.
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