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New Compass Agents Can Compete With Howard Hanna: Court inman.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inman.com Daily Mail and Mail on Sunday newspapers.
Inman Connect Since its inception in 2012, Compass has ruffled feathers within the real estate industry. First for its impressive seed funding round lineup that included investing giants, such as Goldman Sachs, as key backers, and then from there, CEO Robert Reffkin shook things up once again with rapid-fire market expansions, a slew of multi-million dollar funding rounds, strategic acquisitions and bold (sometimes controversial) recruiting tactics to bring the industry’s best to Compass. All of those moves stoked rumors about an eventual initial public offering (IPO) that finally came to fruition on April 1. However, the company cut its offering a day before going live on New York Stock Exchange a decision that some analysts and industry members took as a sign that the proof may indeed not be in the pudding. ....
Inman Connect Two former Howard Hanna agents the brokerage sued last month have filed counterclaims alleging Howard Hanna is withholding their compensation after they were recruited by rival Compass. In a March 23 amended complaint, Pittsburgh-based Howard Hanna alleged New York City-based Compass aided and abetted three former Howard Hanna agents Michael Hornung, Jennifer Crouse and Leah George to breach non-compete, non-solicitation and confidentiality provisions in the agents’ contracts with Howard Hanna and steal the brokerage’s trade secrets in order to burnish Compass’s image as a disruptive tech company in advance of its initial public offering. The allegations are similar to those made by Zillow against Compass in an April 2019 lawsuit that ultimately settled and in a July 2019 suit filed by Realogy against Compass that is ongoing. Meanwhile, high-end Los Angeles-based brokerage The Agency accused Compass in a lawsuit Friday of illegally try ....
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Inman Connect Real estate brokerage Howard Hanna is suing rival Compass, alleging the heavily funded firm stole agents and trade secrets in order to burnish its image as a disruptive tech company in advance of Compass’ initial public offering. In a March 23 amended complaint, Pittsburgh-based Howard Hanna alleged New York City-based Compass aided and abetted three former Howard Hanna agents Michael Hornung, Jennifer Crouse and Leah George to breach non-compete, non-solicitation and confidentiality provisions in the agents’ contracts with Howard Hanna and steal the brokerage’s trade secrets in order to compete unfairly and make itself look more impressive. Compass and Howard Hanna are the fourth and fifth largest brokerages nationwide by transaction sides, respectively, according to Real Trends. Compass went public on April 1. ....