New York Attorney General Letitia James is reportedly conducting an investigation of Compass International Holdings (NYSE: COMP) regarding its dominance in the state’s real estate market.
The Real Deal first reported the probe by the antitrust division of James’ office, which has been in contact with several major New York City brokerages. The probe reportedly began after Compass concluded its $1.6 billion merger with Anywhere Real Estate, which established Compass International Holdings as the nation’s largest residential real estate firm with more than 340,000 agents and franchisees. The Anywhere merger followed the company’s $444 million acquisition of @properties and Christie’s International Real Estate for $444 million.
James’ office has not made any public comment on the investigation and Compass did not comment on the report. Seeking Alpha reported shares of Compass dropped by 12.69% after news of the probe was first reported.
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