The proposed marriage of two real estate giants is drawing fresh legal fire, as Compass merger Anywhere lawsuits emerge from shareholders who say critical information about the blockbuster deal was left in the dark.
Court papers disclosed in a Form 8-K filed Dec. 29 with the Securities and Exchange Commission reveal that at least three individuals have sued Anywhere Real Estate in connection with its planned merger with Compass.
Who Is Suing — and Where
According to the SEC filing, the lawsuits were filed in two courts across two states. Cases known as McDaniels and Marino landed in the Supreme Court of the State of New York, while a third case, Drulias, was filed in the Superior Court of New Jersey.
All three plaintiffs are described as “purported Anywhere stockholders,” the filing says.
What the Lawsuits Claim
At the heart of the complaints is an accusation that Anywhere failed to provide full and accurate disclosures tied to the proposed merger. The plaintiffs contend that the joint proxy statement and prospectus, released earlier this month, omitted or misstated information material to shareholders weighing the deal.
Industry publication Real Estate News said it is working to obtain the underlying court filings and plans to report further details once they are available.
