UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 7.01Regulation FD Disclosure
On December 27, 2023, a putative class action complaint under the caption Umpa, et al. v. The National Association of Realtors et. al. (Case No.:4:23-cv-00945-FJG, the “Class Action”) was filed in the United States District Court for the Western District of Missouri, Western Division, naming as defendants The National Association of Realtors, and certain real estate brokerages, franchisors and real estate brokerage owners, including eXp World Holdings, Inc. (the “Company”) and eXp Realty, LLC, a wholly owned subsidiary of the Company. The Class Action complaint alleges that defendants conspired to restrain trade by causing certain home sellers to pay buyer broker fees and inflated commissions on the sale of homes all in violation of federal antitrust law. The putative class representative seeks to represent a class of sellers of certain residential property who used a listing broker affiliated with the defendants in the sale of a home listed on an MLS and who paid a commission to a cooperating broker in connection with the sale of the home from December 27, 2019, through the present. Plaintiff, on behalf of himself and the putative class, seeks a permanent injunction enjoining the defendants from continuing conduct determined to be unlawful and an award of declaratory relief, damages and/or restitution in an amount to be determined at trial, pre-and post-judgment interest and attorneys’ fees, expenses and costs of suit. The Company believes that additional antitrust litigation may be possible. The Company cannot provide any assurances that results of such litigation will not have a material adverse effect on its business, results of operations or financial condition.
The information in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing by the Company under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| eXp World Holdings, Inc. |
| (Registrant) |
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Date: January 3, 2024 | /s/ James Bramble |
| James Bramble |
| Chief Legal Counsel |