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. |
Argentine ant sniffer dog averts potential disaster on Matiu / Somes IslandNational expected to instill need for discipline at caucus retreatSecurity law: Hong Kong's artists resist censorship, continue sharing dissident art onlineUkraine war: Six Russian planes destroyed by drones, says KyivNew Zealand man killed in suspected hitChanges to road user charges will see EV owners paying more, climate expert saysUkraine lowers conscription age after drop in volunteers to fight Russian invasionArgentine ant sniffer dog averts potential disaster on Matiu / Somes IslandProtests over government's plans to repeal Smokefree legislation in Auckland and at ParliamentChinese troops deployed in 'significant numbers' amid border tensions with India