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.
At least 4 killed and 1 injured in building collapse in eastern China, state media says
2 Georgia state House incumbents lose to challengers in primaries
Leverkusen and coach Alonso accept their first loss, now must lift themselves for German cup final
Papua New Guinea: Overnight rain raises safety fears at deadly landslide site
Jonathan Allen is all smiles and on board with the Washington Commanders' new regime
Luzardo throws eight scoreless innings and Chisholm homers as Marlins shut out Brewers 1
Street shooting in Harrisburg leaves 2 men dead, 3 people wounded
North Korea plans to launch a rocket soon, likely carrying its 2nd military spy satellite
Defense highlights internet search for hypothermia in Karen Read murder trial
British horse riding star Georgie Campbell, 37, dies after suffering fall at Bicton Horse Trials
NYC vowed to reform its protest policing. A crackdown on a pro