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

Compass, Inc. (COMP) has confirmed their entry into a nationwide settlement agreement aimed at resolving all ongoing class action litigations. As a part of this agreement, the company has consented to contribute $57.5 million into a designated settlement fund. This action will subsequently result in the company recording a pre-tax charge of the same amount during the financial quarter ending March 31, 2024. Importantly, Compass, Inc. does not anticipate the terms of this settlement to significantly interfere with their future operations. Furthermore, the company has pledged to implement specific modifications to their current business practices as part of the settlement. This agreement directly correlates to the pending class action lawsuits, Umpa v. NAR and Gibson v. NAR.