regulatory
confidence high
sentiment negative
materiality 0.60
Opendoor settles FTC allegations for $62M; records $41M additional accrual
Opendoor Technologies Inc.
- Settlement with FTC for $62 million; payment expected in H2 2022.
- Company strongly disagrees with allegations but settles to resolve matter.
- Accrual balance increased to $62 million as of June 30, 2022, from prior $41M.
- Allegations relate to activity between 2017-2019; marketing messages modified years ago.
- Settlement subject to final FTC approval.