Market Chatter: Douglas Elliman Faces FINRA Probe Over Anywhere's Takeover Bid

MT Newswires Live
Sep 24

Douglas Elliman's (DOUG) trading activity ahead of reports of a takeover bid by Anywhere Real Estate (HOUS) are being looked into by the Financial Industry Regulatory Authority, Reuters reported Wednesday, citing people familiar with the matter.

The probe seeks a written chronology of events prior to the bid becoming public in late May when Douglas Elliman's shares jumped about 50%, according to the report.

FINRA has requested board minutes, a list of insiders, details of communications with advisers, employee policy for dealing in its shares, and clearance requests for any such trades before May 23, the report said.

Douglas Elliman, FINRA and the US Securities and Exchange Commission did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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