Compass settles nationwide commission class actions for $57.5M, agrees to practice changes

Compass, Inc.

Agreed to pay $57.5M into settlement fund, 50% within 30 days of preliminary approval, balance within one year.
Expects to record $57.5M pre-tax charge in Q1 2024; does not expect material impact on future operations.
Settlement resolves Umpa v. NAR and Gibson v. NAR; releases Compass, subsidiaries, and agents from claims.
Business practice changes include requiring clear disclosure that commissions are negotiable and prohibiting listing-sort by commission offers.
Settlement is not an admission of liability; subject to preliminary and final court approval.

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