Realogy’s stock got a boost on Monday, following a weekend of intrigue, rumor and conflicting statements surrounding its legal battle with Compass.
The company’s stock price jumped more than 11 percent to $5.48. It was a strong day in the market overall, with 20 of 29 real estate stocks The Real Deal follows up on the previous week.
The uptick followed a week of conflicting statements from both firms over a July lawsuit filed by Realogy, which accused Compass of “predatory” poaching and attempts at price-fixing.
In an effort to get the case thrown out, Compass last week claimed Realogy CEO Ryan Schneider of attempting to sell Realogy to Compass — a claim that Schneider said was “simply not true.”
However, the back-and-forth might have helped Realogy’s stock performance, whether investors were responding favorably to reports that Schneider considered selling Realogy, or to the counter report that he wasn’t going to sell.
Realogy declined to comment.