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Realogy CEO refutes sale, merger discussions with rival Compass

Real estate services provider Realogy Holdings Corp. rebuffed recent claims by rival Compass that the company held talks to sell itself or merge with Compass.

Compass on Sept. 6 filed a motion to dismiss a July lawsuit by Realogy accusing Compass of engaging in "illegal and unfair business practices."

Realogy CEO Ryan Schneider said Sept. 7 that the claims by Compass are "designed to inspire sensational news coverage about Realogy that is simply not true."

Schneider also said a judge in New Jersey recently ruled that in connection with the hiring of a Realogy employee, Compass was complicit in improperly accepting Realogy's confidential information from the employee.

Schneider said Compass set up a "dummy job" to circumvent the employee's non-compete provisions. He added that the judge issued a preliminary injunction against Compass and the employee.