Overview
- Rightmove said it has received notice of a potential claim and stated it is confident in the value it provides to partners.
- The matter is at pre-action stage with a letter before action sent, and any case would next be filed at the Competition Appeal Tribunal for certification.
- The proposed claim is led by Jeremy Newman with law firm Scott+Scott UK and is funded by litigation backer Innsworth Capital.
- Allegations focus on abuse of a dominant position to impose high subscription fees, with Rightmove’s 2024 profit margin of about 70% cited as evidence.
- The proposed opt-out class would cover thousands of estate agents seeking to recover alleged overpayments, with total damages estimated at around £1 billion.