Friday Thoughts… What’s Going on with Rightmove?
A few Friday Thoughts.
What’s going on with Rightmove? It’s down over 35%!
According to the FT:
‘’A litigation funding arm of US hedge fund Elliott is financing a planned class-action lawsuit against Rightmove over claims the property website levies “excessive and unfair” charges on UK estate agents.
Innsworth Advisors, owned and backed by funds managed by Elliott, said it was financing an “imminent” legal action against the FTSE 100 property listings site.
Claimants led by Jeremy Newman, a former panel member at the Competition and Markets Authority, allege that Rightmove has abused a dominant market position to overcharge estate agents for listing properties on the popular portal.
They are demanding £1bn in damages.’’
Source: https://www.ft.com/content/80ed8ffa-70c7-486e-b235-5b01a1b24af6
New In:
