Stock Watch: News of Antitrust Probe Batters Homestore.com

Homestore.com, Inc. (Nasdaq: HOMS) fell 2 1/4 to 19 1/2 Tuesday after the Thousand Oaks, California-based online real-estate company said it had received a request for information from the U.S. Justice Department’s antitrust division.

Homestore said it will “cooperate fully” with the request and “believes it has complied with all laws and regulations.” The company also noted that the U.S. government did not allege any violation, but is seeking information about the company’s business as it relates to Internet realty sites in the United States.

Homestore operates a network of Web sites with real estate-related information, products and services. The company works with Realtor.com, the Web site of the National Association of Realtors. News reports said the realtors’ group had also received a government request for information.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

TechNewsWorld Channels