0001495932false00014959322024-01-032024-01-03

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 3, 2024

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EXP WORLD HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

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Delaware

001-38493

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98-0681092

(State or other jurisdiction

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(Commission

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(IRS Employer

of incorporation)

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File Number)

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Identification No.)

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2219 Rimland Drive, Suite 301, Bellingham, WA

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98226

(Address of principal executive offices)

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(Zip Code)

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(360) 685-4206

(Registrant’s telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report.)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to section 12(b) of the Act:

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Title of Each Class

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Trading Symbol(s)

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Name of each exchange on which registered

Common Stock, $0.00001 par value per share

EXPI

The Nasdaq Stock Market

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 7.01Regulation FD Disclosure

 

On December 27, 2023, a putative class action complaint under the caption Umpa, et al. v. The National Association of Realtors et. al. (Case No.:4:23-cv-00945-FJG, the “Class Action”) was filed in the United States District Court for the Western District of Missouri, Western Division, naming as defendants The National Association of Realtors, and certain real estate brokerages, franchisors and real estate brokerage owners, including eXp World Holdings, Inc. (the “Company”) and eXp Realty, LLC, a wholly owned subsidiary of the Company. The Class Action complaint alleges that defendants conspired to restrain trade by causing certain home sellers to pay buyer broker fees and inflated commissions on the sale of homes all in violation of federal antitrust law. The putative class representative seeks to represent a class of sellers of certain residential property who used a listing broker affiliated with the defendants in the sale of a home listed on an MLS and who paid a commission to a cooperating broker in connection with the sale of the home from December 27, 2019, through the present. Plaintiff, on behalf of himself and the putative class, seeks a permanent injunction enjoining the defendants from continuing conduct determined to be unlawful and an award of declaratory relief, damages and/or restitution in an amount to be determined at trial, pre-and post-judgment interest and attorneys’ fees, expenses and costs of suit. The Company believes that additional antitrust litigation may be possible. The Company cannot provide any assurances that results of such litigation will not have a material adverse effect on its business, results of operations or financial condition.

The information in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing by the Company under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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eXp World Holdings, Inc.

 

(Registrant)

 

 

Date: January 3, 2024

/s/ James Bramble

 

James Bramble

 

Chief Legal Counsel

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v3.23.4
Document and Entity Information
Jan. 03, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jan. 03, 2024
Entity File Number 001-38493
Entity Registrant Name EXP WORLD HOLDINGS, INC.
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 98-0681092
Entity Address, Address Line One 2219 Rimland Drive, Suite 301
Entity Address, City or Town Bellingham
Entity Address, State or Province WA
Entity Address, Postal Zip Code 98226
City Area Code 360
Local Phone Number 685-4206
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.00001 par value per share
Trading Symbol EXPI
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Entity Central Index Key 0001495932
Amendment Flag false
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