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:
Anaheim residents voice concerns over Disneyland's proposed development plansHundreds of pests caught travelling along Transmission GullyItalian press revels in Atalanta's shock 3PLAYER RATINGS: Scores revealed for DIRE Liverpool stars who flopped in first leg against AtalantaSarah Everard's killer Wayne Couzens should never have been police officer'The wheels have come off!': Steve McManaman delivers scathing assessment of Liverpool's dismal 3Kris Jenner, 68, looks chic in D&G dress for 'date night' with longtime boyfriend Corey Gamble, 43BBC announce Tom Hiddleston is set to return to The Night Manager for two more seriesHKFP Lens: Past Macau meets present in Portuguese photographer Gonçalo Lobo Pinheiro's imagesSpy agency's surveillance powers too broad, Inspector
3.4802s , 6514.90625 kb
Copyright © 2024 Powered by Redfin agrees to pay $9.25 million to settle real estate broker commission lawsuits ,Global Glimpse news portal