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. |
Chad kicks off presidential campaignChina's space station looking forward to participation of foreign astronautsNew technologies of smart agriculture on display at 5th CIIE in ShanghaiRwandans honor fallen politicians as genocide commemoration week endsTanzania to host field training for over 600 senior police officers from 14 African countriesXi chairs CPC leadership meeting to review reports, guideline and regulations1st section of ChineseU.S. firms confident in HK rule of law, poll findsIGAD calls on Sudanese warring parties to end yearNew defense minister talks with Russian counterpart