SIRVA Inc. Comments on Delaware Court Ruling to Dismiss Realogy’s Litigation Attempt
July 18, 2020 (OAKBROOK TERRACE, IL) — SIRVA, Inc., a leading global relocation and moving company, today issued the following statement in response to the Delaware Court ruling to dismiss litigation between Realogy Holdings Corp. (NYSE: RLGY) and SIRVA, Inc. regarding the previously announced purchase agreement for the acquisition of Realogy’s Cartus Relocation Services business.
We are pleased the Court dismissed Realogy’s attempt to force closing of the SIRVA - Cartus transaction. As the Court concluded, Realogy -- not SIRVA -- caused the transaction to fail and nothing about SIRVA’s business or financial position factored into the Court’s determination that the transaction would not proceed. Moving forward, SIRVA remains financially strong and well positioned to continue serving our clients with best in class service and support through our leading array of capabilities, technologies and services as they navigate the challenging global market environment, and we will continue to vigorously defend ourselves and assert our rights in any further litigation with Realogy.
About SIRVA Worldwide Relocation & Moving
SIRVA Worldwide Relocation and Moving is a global leader in moving and relocation services, offering solutions for mobility programs to companies of every size. With 75 owned locations and more than 1,000 franchised and agent locations in 177 countries, we offer unmatched global breadth supported by localized attention and innovative technology that strikes the right balance of self service and human support. From relocation and household goods to commercial moving and storage, our portfolio of Brands (SIRVA, Team Relocations, Allied, northAmerican, Allied Pickfords & SMARTBOX) provides the only integrated moving/relocation solution in the industry. By leveraging our global network, we deliver a superior experience that only a “one-stop shop” can provide.
Mike DeGraff/Paige Barrett
Sard Verbinnen & Co