Redfin agrees to pay $9.25 million to settle real estate broker commission lawsuits
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
John Swinney expected to lead Scotland after being confirmed as Scottish National Party leader
LONDON (AP) — Scotland’s former deputy first minister, John Swinney, was confirmed Monday as head of2024-05-07China urges U.S. to formulate universal data security rules to enable orderly, free data flows
BEIJING, Feb. 29 (Xinhua) -- China firmly rejects the U.S. false accusation that China purchases Ame2024-05-07Musgrove goes 7 innings and Bogaerts homers as the Padres beat the Blue Jays 6
SAN DIEGO (AP) — Joe Musgrove pitched seven innings for the first time since July 4 and Xander Bogae2024-05-07Airport near volcano reopens as Indonesia lowers eruption alert level
MANADO, Indonesia (AP) — Indonesian authorities reopened an international airport near a volcano tha2024-05-07Hospital operator Steward Health Care files for bankruptcy protection
BOSTON (AP) — Hospital operator Steward Health Care filed for bankruptcy protection early Monday mor2024-05-07Horoscope today: Daily guide to what the stars have in store for YOU
Following the weekend's link between Jupiter (luck) and Uranus (innovation), can you feel change in2024-05-07
atest comment