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.
Lidia Bastianich, Melody Thomas Scott and Ed Scott to receive Daytime Emmys lifetime achievement
China suspends HK extradition, judiciary assistance treaties with Canada, Australia, Britain
Serbian president receives injection of Chinese COVID
Japan's campaign to revive domestic tourism sparks controversy
China, Arab countries agree to enhance cooperation
Japan urged to stop dumping Fukushima nuclear
Janet Jackson to play 2024 Essence Fest instead of the Smoothie King Center this summer
Syrian workers arrange cotton fabric for making masks in Damascus
Atalanta comes from behind to beat Salernitana and improve Champions League chances
Xi Inspects Community in Nanning in China's Guangxi