This Just In: Cendant, Settle Suit

December 1, 1999

Cendant Corp. has settled its suit against and reaffirmed the companies’ earlier agreements. The settlement gives Cendant 250,000 shares of HomeStore stock. The agreements require Cendant to endorse and help promote HomeStore products and to give HomeStore exclusive third-party license to use the listings of the company’s three franchises, Century 21, Coldwell Banker, and ERA.

The $300 million suit, filed in July, charged HomeStore with breach of contract for failing to negotiate an equity participation for Cendant in HomeStore before its initial public offering of stock. HomeStore operates REALTOR.COM, NAR’s official Web site.

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.