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:
Number of Teachers Continues to IncreaseCBA roundup: Beijing rallies past Shanxi, Shandong smashes JiangsuChina's Subsistence Allowance Covers 14 Million Elderly Citizens: MinistryChina Unveils Supporting Measures for Childbirth, ParentingChina's Annual Marriage Registrations Drop at Lowest Since 1986Visitors View Exhibits at 2nd CICPEChina Eases Visa Rules for International StudentsProducts from Various Countries & Regions on Display at CIFTISChina Takes Solid Steps to Foster Stronger Sense of Community for Chinese NationSilk Road Int'l Expo Pushes for Deeper Belt and Road Cooperation
0.3091s , 6497.765625 kb
Copyright © 2024 Powered by Redfin agrees to pay $9.25 million to settle real estate broker commission lawsuits ,Global Gleam news portal