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:
Over 100 blackIn pics: autumn scenery across ChinaChina, DRC Upgrade Ties to Comprehensive Strategic Cooperative PartnershipXi Calls on National Art Museum of China to Build Worldwide PrestigeIn pics: Harbin, wetland paradise in NE ChinaLocal flavor adds spice to tourismBook of Xi's Discourses on SciFeature: Books on Xi's Thought Key to Understanding ChinaGuangxi's Sanyuesan Festival makes a splash in Beijing‘Xinjiang Is a Nice Place' opens for a third year
0.1926s , 6499.71875 kb
Copyright © 2024 Powered by Redfin agrees to pay $9.25 million to settle real estate broker commission lawsuits ,Culture Curves news portal