Claimants drop S$731,212 lawsuit against property agency ERA

[SINGAPORE] A S$731,212 lawsuit filed against real estate agency ERA Realty has been discontinued and withdrawn by the claimants.

In a bourse filing on Friday (Jun 19), mainboard-listed Apac Realty, the parent company of ERA Realty, announced that the lawsuit against its wholly owned subsidiary has been dropped.

The company said that there is no material impact on the financial position and performance of the group for the financial year ending Dec 31, 2026, arising from the discontinuation.

Apac Realty did not disclose the reason for the discontinuation.

The legal action was first brought to light on Feb 4, when Apac Realty announced that ERA had been named as a co-defendant in the suit.

The claimants were seeking damages against ERA for an alleged breach of duty of care. In the alternative, they were pursuing vicarious liability arising from the alleged negligent misrepresentation of one of ERA’s salespersons during a property transaction.

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The damages sought amounted to S$731,212, to be paid jointly and severally by three named defendants. The other defendants were not disclosed in Apac Realty’s announcement.

At the time the suit was filed, Apac Realty had stated its intention to vigorously defend the legal action, maintaining that the case was not expected to materially affect its financial performance.

Shares of Apac Realty ended at S$0.55, S$0.015 or 2.7 per cent lower on Thursday.