Compass Settles Class Action Litigation for $57.5 Million

The latest update is out from Compass (COMP).

Compass, Inc. has agreed to a $57.5 million settlement to resolve nationwide class action litigations, without admitting liability. This settlement, which is pending court approval, will not materially impact the company’s future operations but does include changes to the company’s business practices, such as clearer commission disclosures and prohibition of sorting listings by compensation. The first half of the settlement amount is due within 30 days of preliminary court approval, expected in the second quarter of 2024, with the remainder due within a year.

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