Homestore Disciplines Employees

January 18, 2002

Seven Staffers Fired--Or Resigned--In Connection With Internal Accounting Audit


Inman News Features

Homestore.com yesterday announced additional disciplinary actions related to its previously announced internal accounting inquiry.

The company has terminated or accepted resignations from seven employees, including three who previously had been placed on administrative leave. The company did not disclose the employees? names.

Homestore on Jan. 2 announced preliminary results of the audit had found the company overstated its online advertising revenues for the first three quarters of 2001 by $54-$95 million. No further details have been announced.

Stuart Wolff, former Homestore chairman and CEO, resigned Jan. 7.

The company said additional disciplinary measures may be taken before the accounting inquiry is completed.

Copyright: Inman News Service


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro is the nation's leading provider of closing and title software, consistently pushing the technological envelope to pioneer the most powerful and comprehensive closing and title automation software on the market. SoftPro's Award-Winning Software combines cutting-edge technology with outstanding support to make your business more productive, efficient and boost your revenue. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.