CoStar Group Responds to D.E. Shaw's Letter: A Proven Track Record and Commitment to Enhancing Stockholder Value

CoStar Group, a leading online real estate marketplace provider, responded to a letter from D.E. Shaw. The company claims it has addressed D.E. Shaw's concerns, including refreshing the Board, forming a Capital Allocation Committee, moderating investment in Homes.com, and accelerating share repurchases. Despite 14 meetings, D.E. Shaw is pushing a narrative that CoStar Group has not engaged with their feedback or considered their arguments. The company asserts that its management team and Board have tried to help D.E. Shaw understand the value of Homes.com and the plan to realize it.