According to a filing with the Securities and Exchange Commission, Homestore.com Inc. lost about $1.5 billion in 2001, reflecting the write-down of assets and expenses related to a restructuring.

The company had previously stated that it had lost $146 million in 2000, or $1.83 a share, from the previously reported loss of $115.2 million, or $1.44.

With shares down more than 94% since mid-July, the company is still investigating its own accounting after disclosing that advertising sales were improperly recorded and should have been accounted for as barter transactions.

Key former personnel have been named in dozens of class action suits, and some may face possible criminal actions. The company has turned over management to new outside leadership.

Published: April 3, 2002

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