US District Court Dismissed All Claims Against Cendant And Richard A. Smith

11th Mar 2003

Cendant Corporation (NYSE: CD) today announced that the U.S. District Court in Los Angeles, CA has dismissed with prejudice all claims made against Cendant and its Chairman, Real Estate Division, Richard A. Smith, in the class action lawsuit brought by the California Teachers` Retirement System against Homestore and others.

“As we have asserted from the outset, this lawsuit had no merit. We are pleased that the court agreed,” said Cendant`s General Counsel, James E. Buckman.


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