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Estate agent Purplebricks flags up to $12 million risk over tenant communication

By Reuters

– Purplebricks on Monday warned of a potential financial risk of 2 million pounds to 9 million pounds ($2.7 million to $11.9 million), after the online estate agent found problems with communications with tenants about deposit registrations.

Purplebricks, Britain’s biggest online-only estate agency, said it would delay its interim results as the matter is probed, adding that it was correcting how it communicates with tenants on behalf of landlords to avoid claims under British laws.

($1 = 0.7560 pounds)