Redfin has agreed to pay $9.25 million to settle federal lawsuits that claim U.S. homeowners were saddled with artificially inflated broker commissions when they sold their home as a result of longstanding real estate industry practices.
The online brokerage and real estate services company disclosed the proposed settlement Monday in a regulatory filing with the Securities and Exchange Commission.
The settlement, which Redfin agreed to Friday, would resolve pending class action lawsuits filed in federal court in the Western District of Missouri, and also shield the company, its subsidiaries and agents from similar cases around the country, according to the filing.
“Resolving this litigation now and removing uncertainty is in the best interest of the company, our employees, and our investors,” the company said in a statement Monday.
Related articles:
Related suggestion:
Tech billionaire Ankur Jain and his fitness trainer fiancée kick off jawRory McIlroy and Shane Lowry remain tied for lead in the Zurich Classic of New OrleansChina to establish modern ecoShota Imanaga continues impressive MLB start, raising record to 490 Day Fiance's Loren Brovarnik talks undergoing SEVENLeicester promoted back to English Premier LeagueCoastal Carolina athletic director Hogue, exUzbekistan knocks out titleholder Saudi Arabia in UnderThe long wait for the 1st running back to be drafted ends with Jonathan Brooks going 46thNFL to allow players to wear protective soft
0.2145s , 6496.3359375 kb
Copyright © 2024 Powered by Redfin agrees to pay $9.25 million to settle real estate broker commission lawsuits ,Earthly Insights news portal