"REMAX entered into the Settlement Agreement after considering the risks and costs of continuing the litigation, the SEC filing states. Of the $8.5 million, $1.5 million will be paid into the settlement fund after the agreement receives preliminary approval with the remaining $7.0 million being paid after the settlement gains final approval."
"The settlement resolves all claims that were not covered by REMAX's settlement in Sitzer/Burnett. The settlement class includes all individuals who have never sold a home or have not sold a home during the time periods covered by REMAX's Sitzer/Burnett settlement."
"In settling the Batton litigation, REMAX joins Keller Williams as the only other defendant in both Batton lawsuits to reach a homebuyer commission lawsuit settlement with the Batton plaintiffs."
REMAX has entered into an $8.5 million settlement agreement to resolve allegations in the Batton lawsuit, denying the material claims. The settlement includes a $1.5 million initial payment and a $7 million final payment upon approval. It covers all claims not included in REMAX's previous Sitzer/Burnett settlement, affecting individuals who have not sold homes during specified periods. The settlement releases REMAX and its affiliates from these claims. REMAX joins Keller Williams as the only firms to settle with the Batton plaintiffs, while other firms have settled in related lawsuits.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]