Haeggquist & Eck Investigates Breach of Fiduciary Duties by RE/MAX Officers and Directors Regarding Unlawful Employment Practices and Loan of Personal Funds Between Senior Management.
San Diego – (Businesswire): Haeggquist & Eck, LLP, a leading shareholder rights litigation firm, is investigating whether certain directors and officers of RE/MAX Holdings, Inc. (“RE\MAX” or the “Company”) (NYSE: RMAX) breached their fiduciary duties to the Company and its shareholders. If you are a RE/MAX Healthcare shareholder, you are encouraged to contact Haeggquist & Eck for additional information.
RE/MAX is a franchisor of real estate and mortgage brokerage services in the United States, Canada, and globally.
On November 2, 2017, RE/MAX revealed that its Board of Directors appointed a special committee “to investigate allegations concerning actions of certain members of the Company’s senior management including an allegation of a previously undisclosed loan of personal funds from David L. Liniger, the Company’s Co-Chief Executive Officer and Chairman, to Adam M. Contos, the Company’s Co-Chief Executive Officer, and allegations of wrongdoing in employment practices and conduct.”
Accordingly, the Company announced that it would delay its third-quarter 2017 earnings release and conference call pending further work in connection with this internal investigation. On this news, RE/MAX stock dropped $10.30, or 15.4%, to close at $56.40 on November 3, 2017.
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