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:
Armenia and Azerbaijan move closer to normalizing ties as the first border marker goes upUS women's soccer to play Olympic sendGet better sleep with these 5 tips from expertsCaitlin Clark to sign new Nike deal valued at $28 million over 8 years, reports sayUS advances review of Nevada lithium mine amid concerns over endangered wildflowerA top Russian military official reportedly linked to Ukraine's Mariupol arrested for bribeCyberattacks are on the rise, and that includes small businesses. Here's what to knowMan sentenced to 6 years in prison for attacking police with pole at CapitolWoman charged with murder in crash that killed young brother and sister at birthday partyPepsiCo beats Q1 revenue forecasts as price increases moderate
2.7206s , 5259.390625 kb
Copyright © 2024 Powered by Redfin agrees to pay $9.25 million to settle real estate broker commission lawsuits ,Planet Panorama news portal