New York State Retirement Fund Opposes eXp World Move to Texas
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Should l Buy EXPI?
The New York State Common Retirement Fund recommends a vote against a measure to reincorporate eXp World from Delaware to Texas and against all company directors, New York State Comptroller Thomas DiNapoli, trustee of the fund, announced. "The company proposed the move just weeks after a Delaware judge ruled that a lawsuit be allowed to proceed against certain company officers and directors, including its founder and CEO Glenn Sanford, for allegedly concealing a pervasive 'rape culture' at the company. Texas law limits shareholders' rights to hold companies accountable," DiNapoli said in a statement.
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Analyst Views on EXPI
Wall Street analysts forecast EXPI stock price to rise
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 6.710
Low
13.00
Averages
13.00
High
13.00
Current: 6.710
Low
13.00
Averages
13.00
High
13.00
About EXPI
eXp World Holdings, Inc. is the holding company for eXp Realty and SUCCESS Enterprises. eXp Realty is an independent real estate brokerage, with over 82,000 agents across 29 countries. As a cloud-based, agent-centric brokerage, eXp Realty provides real estate agents commission splits, revenue share, equity ownership opportunities, and a global network that empowers agents to build businesses. SUCCESS Enterprises, anchored by SUCCESS magazine, provides personal and professional development. Its segments include North American Realty, International Realty and Other Affiliated Services. North American Realty segment includes real estate brokerage operations in the United States and Canada, as well as lead-generation and other real estate support services provided in North America. International Realty segment includes real estate brokerage operations in all other international locations. Other Affiliated Services segment includes its SUCCESS Magazine, and other ancillary ventures.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Team Addition: Michelle Ferry-Cronin and her team join eXp Realty, focusing on pre-foreclosure real estate, bringing extensive industry experience and expertise that is expected to enhance the company's competitive edge in complex transactions.
- Business Model Alignment: In selecting a platform, the Ferry-Cronin team emphasized the strong alignment with eXp Realty's collaborative model, with approximately 70% of their business centered on pre-foreclosure, showcasing their deep understanding and responsiveness to client needs.
- High-Touch Service: Ferry-Cronin stated that her team emphasizes close collaboration with clients when navigating complex financial situations, helping them preserve equity, which reflects eXp Realty's client-centric service philosophy.
- Strategic Integration: The addition of this team marks a strategic integration between eXp Realty's high-touch business model and its scalable platform, which is expected to drive further growth in the real estate sector.
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- Shareholder Vote Call: The New York State Common Retirement Fund has urged eXp Realty shareholders to vote against the proposed reincorporation from Delaware to Texas at the upcoming annual meeting, citing concerns that this move could weaken accountability for the company's leadership.
- Legal Lawsuit Context: According to a report by The New York Times, eXp Realty is facing three sexual harassment lawsuits, two filed in California in 2023 and one in Florida in 2025, alleging a cover-up of a 'rape culture' within the firm.
- Shareholder Rights Concerns: New York State Comptroller Thomas DiNapoli highlighted that Texas laws limit shareholders' rights to hold companies accountable, making the reincorporation plan appear suspicious and likely to raise significant concerns among investors.
- Board Election Opposition: DiNapoli also called for shareholders to oppose all six eXp director nominees, including the CEO and directors named in the Delaware lawsuit, during the April 24 annual meeting, reflecting strong dissatisfaction with the company's governance.
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- Strong Performance Metrics: In 2024, Maximum Tampa Group achieved a transaction volume of $51.96 million, completing 144 transactions and averaging between 120 and 150 transactions annually, demonstrating robust performance and sustainable growth potential in the real estate market.
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- Market Development Strategy: The new team will focus on recruiting, team development, and market expansion, integrating media, systems, and agent growth into a unified platform to enhance market presence in the Tampa region.
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Investment Opportunity: An analyst suggests that the current market conditions present an attractive entry point for residential real estate stocks.
See More
eXp Realty Welcomes Michelle Ferry-Cronin Team Focused on Pre-Foreclosure
- Team Addition: Michelle Ferry-Cronin and her team join eXp Realty, focusing on pre-foreclosure real estate, bringing extensive industry experience and expertise that is expected to enhance the company's competitive edge in complex transactions.
- Business Model Alignment: In selecting a platform, the Ferry-Cronin team emphasized the strong alignment with eXp Realty's collaborative model, with approximately 70% of their business centered on pre-foreclosure, showcasing their deep understanding and responsiveness to client needs.
- High-Touch Service: Ferry-Cronin stated that her team emphasizes close collaboration with clients when navigating complex financial situations, helping them preserve equity, which reflects eXp Realty's client-centric service philosophy.
- Strategic Integration: The addition of this team marks a strategic integration between eXp Realty's high-touch business model and its scalable platform, which is expected to drive further growth in the real estate sector.
See More
New York Retirement Fund Opposes eXp World's Reincorporation
- Shareholder Vote Call: The New York State Common Retirement Fund has urged eXp Realty shareholders to vote against the proposed reincorporation from Delaware to Texas at the upcoming annual meeting, citing concerns that this move could weaken accountability for the company's leadership.
- Legal Lawsuit Context: According to a report by The New York Times, eXp Realty is facing three sexual harassment lawsuits, two filed in California in 2023 and one in Florida in 2025, alleging a cover-up of a 'rape culture' within the firm.
- Shareholder Rights Concerns: New York State Comptroller Thomas DiNapoli highlighted that Texas laws limit shareholders' rights to hold companies accountable, making the reincorporation plan appear suspicious and likely to raise significant concerns among investors.
- Board Election Opposition: DiNapoli also called for shareholders to oppose all six eXp director nominees, including the CEO and directors named in the Delaware lawsuit, during the April 24 annual meeting, reflecting strong dissatisfaction with the company's governance.
See More
eXp Realty Unveils 2025 Top Producers List Celebrating Leading Agents
- Sales Volume Leader: Daniel Koch from Atlanta, GA, topped the U.S. with an individual sales volume of $140,931,139.70 in 2025, showcasing his market command and commitment to excellence, further solidifying eXp Realty's leadership in the high-end market.
- Transaction Count Champion: Nitin Kumar from Round Rock, TX, achieved the highest transaction count with 219 closed transactions, demonstrating his operational efficiency and dedication to clients, which enhances the company's performance in a competitive landscape.
- Team Collaboration Model: The Whissel Beer Group in Poway, CA, secured the top team sales volume with $703,730,847.00, illustrating the power of high-performance teamwork and strategic growth, thereby increasing eXp Realty's market influence.
- Canadian Market Leaders: The Justin Havre Real Estate Team in Calgary, Alberta, dominated Canada with $538,959,741.20 in sales volume and 949.45 sides, reflecting their enduring market dominance and exceptional client service capabilities.
See More
Consumer Sentiment Plummets, Impacting Stock Market
- Consumer Confidence Decline: The latest University of Michigan survey reveals a drop in consumer sentiment to 55.3 in March, the lowest this year, primarily due to heightened personal finance concerns stemming from the war with Iran, which could lead to reduced consumer spending and negatively impact corporate earnings and economic growth.
- Increased Worry Among Higher-Income Households: The report highlights rising concerns among middle and higher-income households regarding soaring gas prices and volatile financial markets, with short-term inflation expectations surging to 3.8%, indicating a lack of confidence in the economic outlook that may suppress consumer activity.
- Polaris Stock Volatility: Polaris (NYSE:PII) shares fell 4.5%, down 18.6% year-to-date, currently trading at $54.10, which is 26.5% below its 52-week high of $73.60, reflecting market apprehension about its future performance.
- Market Overreaction: Although the stock market's strong negative reaction to adverse news has led to declines in several consumer discretionary stocks, it may also present buying opportunities for investors seeking high-quality stocks, especially as market sentiment improves.
See More
Maximum Tampa Group Partners with FIG Team to Enter Tampa Market
- Team Return and Expansion: Led by Yulia Olivo and Jennifer Rivera, Maximum Tampa Group returns to eXp Realty and partners with FIG Team to establish FIG Team Maximum Tampa, marking the team's first expansion into the Tampa market, which is expected to drive local business growth.
- Strong Performance Metrics: In 2024, Maximum Tampa Group achieved a transaction volume of $51.96 million, completing 144 transactions and averaging between 120 and 150 transactions annually, demonstrating robust performance and sustainable growth potential in the real estate market.
- Leadership Changes: Olivo and Rivera will serve as Co-Team Leaders of FIG Team Maximum Tampa, combining local leadership with FIG Team's established systems to provide stronger support and a solid foundation for team development.
- Market Development Strategy: The new team will focus on recruiting, team development, and market expansion, integrating media, systems, and agent growth into a unified platform to enhance market presence in the Tampa region.
See More
Analyst Predicts Housing 'Reset' Ahead: Consider These 5 Stocks for Investment.
Housing Market Impact: Housing cost concerns are heightened due to the ongoing war in Iran, affecting the spring buying season.
Investment Opportunity: An analyst suggests that the current market conditions present an attractive entry point for residential real estate stocks.
See More
