NEW YORK, Nov. 3, 2017 /PRNewswire/ -- WeissLaw LLP, a national class action and shareholders' rights law firm with offices in New York and Los Angeles, announces an investigation of Re/MAX Holdings, Inc. (NYSE: RMAX) ("RMAX," or the "Company"), its Board of Directors, and certain Company officers for, among other things, possible breaches of fiduciary duty and violations of federal securities laws.
On November 2, 2017, the Company issued a press release announcing that it would be postponing the release of its third quarter earnings as a result of an internal investigation. According to the announcement, a special committee has been appointed to investigate "allegations of wrongdoing in employment practices and conduct, [and] matters [that may] constitute to violations of the Company's codes of ethics and business conduct and policies" in connection with a previously undisclosed $2.375 million dollar personal loan at below market interest rate the Company's Co-CEO, Adam M. Contos, received from Co-CEO and Chairman, David L. Linger.
Following this announcement, RMAX shares plummeted, trading for as low as $51.75 on November 3, nearly $15.00 less than the previous day's opening price of $66.55.
WeissLaw is investigating whether RMAX made materially false and/or misleading statements, as well as failed to disclose information with regard to the Company's operations to RMAX shareholders. If you wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact Joshua Rubin of WeissLaw LLP at (888)593-4771, or by e-mail at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients. For more information about the firm, please go to: http://www.weisslawllp.com/remax-holdings-inc/
SOURCE WeissLaw LLP