Investing.com -- Compass Inc. shares fell more than 16% on Wednesday, marking the largest intraday decline since February 23, following a report that the company faces an antitrust investigation in New York.

The Real Deal reported that the antitrust division of the New York Attorney General's Office is examining Compass' presence in the New York market.

According to a message reviewed by The Real Deal, agents from the department contacted leaders at several of New York City's largest brokerages to request information as part of an inquiry into the residential real estate company.

The Attorney General's office has not confirmed the investigation.