How Compass' new size could spell new problems
What could a lawsuit over $500 say about a billion-dollar behemoth? In Compass’ case, it may offer an early look on the kinds of legal battles the brokerage could face as it solidifies its market power. The lawsuit filed by a pair of Palm Beach homebuyers claims the transaction fee, which Compass announced in February as a fixed, nationwide policy, amounts to a deceptive business practice. The plaintiffs are seeking class-action status for other buyers in Florida who have been hit with the fee in the last four years. The lawsuit itself focuses on the legality of Compass inserting “deceptive, […]
What could a lawsuit over $500 say about a billion-dollar behemoth? In Compass’ case, it may offer an early look on the kinds of legal battles the brokerage could face as it solidifies its market power. The lawsuit filed by a pair of Palm Beach homebuyers claims the transaction fee, which Compass announced in February as a fixed, nationwide policy, amounts to a deceptive business practice. The plaintiffs are seeking class-action status for other buyers in Florida who have been hit with the fee in the last four years. The lawsuit itself focuses on the legality of Compass inserting “deceptive, […]
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