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
New coach Sheldon Keefe embraces Stanley Cup expectations with the Devils
NEWARK, N.J. (AP) — Driving past the Prudential Center for a news conference at which he would be in2024-05-29What to know about California's new generative AI tools
SACRAMENTO, Calif. (AP) — Generative artificial intelligence tools will soon be used by California’s2024-05-29Legal Marijuana Now Party loses major status with Minnesota Supreme Court ruling
ST. PAUL, Minn. (AP) — The Minnesota Supreme Court on Friday booted the Legal Marijuana Now Party as2024-05-29Neymar left off Brazil's squad for Copa America. 17
RIO DE JANEIRO (AP) — Neymar was left off Brazil’s squad for the Copa America on Friday and teenage2024-05-29The building that collapsed on Mallorca, killing 4 people, lacked permits, authorities in Spain say
MADRID (AP) — A building housing a bar and restaurant club that collapsed, killing four people on Ma2024-05-29Xander Schauffele shoots 67, leads by 4 over Rory McIlroy, Jason Day at Wells Fargo Championship
CHARLOTTE, N.C. (AP) — Xander Schauffele has been a mainstay near the top of the leaderboard most of2024-05-29
atest comment