Compass, Inc. To Record $57.5 Mln Pre-tax Charge For Settlement Agreement

(RTTNews) - Compass, Inc. (COMP) said it has entered into a settlement agreement to resolve on a nationwide basis the pending class action litigations, under which the company agreed to pay $57.5 million into a qualified settlement fund. The company expects to record a $57.5 million pre-tax charge for the settlement amount during the quarter ending March 31, 2024. The company does not expect the terms of the settlement to have a material impact on future operations. Also, the company agreed to make certain changes to its business practices.

The settlement agreement is related to the pending class action litigations, Umpa v. NAR, and Gibson v. NAR.