Compass (COMP) Surges 9% on Lawsuit Withdrawal

Compass Inc. (NYSE:COMP) is one of the 10 Stocks to Watch Today.

Compass saw its share prices jump by 9.01 percent on Monday to close at $8.47 apiece, as investors mirrored a broader market optimism, while cheering its resolution of a legal case with Zillow in relation to the latter’s marketing ban.

In a statement last week, Compass Inc. (NYSE:COMP) said that it officially withdrew its lawsuit against Zillow following the latter’s announcement that it will no longer ban homesellers and their real estate brokers from publicly marketing a listing on the Compass family of websites or Redfin.com before marketing on Zillow.

Compass (COMP) Surges 9% on Lawsuit Withdrawal

“The end of the ‘Zillow Ban’ is a major victory for homesellers and their real estate professionals. It ensures that homeowners have the freedom to decide when, where, and how to market their homes, and that real estate professionals can uphold their fiduciary duties to their clients without fear of being banned by Zillow,” Compass Inc. (NYSE:COMP) said.

“With homesellers and their real estate professionals no longer subject to punishment by Zillow for publicly marketing a home, Compass will voluntarily dismiss its lawsuit,” it added.

Compass Inc. (NYSE:COMP) is a global real estate services company with a presence in the US and 120 other countries. It serves millions of buyers and sellers through brands @properties, Better Homes and Gardens, Century 21, Compass, and Corcoran, among others.

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