Judges Decline to “Centralize” Commission Lawsuits, Citing Settlements

A panel of judges considering the consolidation of real estate commission lawsuits cited the recent NAR settlement as a reason to deny the request. The judges preferred to allow the cases to proceed individually due to the recent wave of settlements in the industry. Some parties sought to consolidate the lawsuits for efficiency, but the judges decided to let them play out separately. The NAR settlement, along with other major real estate companies settling, influenced the judges’ decision. HomeServices of America is among the companies that have not yet settled and opposed the consolidation motion. The panel indicated that formal centralization may be necessary after the settlement proceedings conclude. Plaintiffs’ attorney Michael Ketchmark noted the significance of the recent settlements and speculated that more companies may settle following the ruling. The post will be updated as more information becomes available.

A panel of judges recently denied a request to consolidate multiple real estate commission lawsuits into one case, citing recent settlements reached by the National Association of Realtors (NAR) and other major real estate companies. The judges stated that it was premature to issue a ruling on the consolidation request due to the impact of these settlements. The NAR settlement, which includes a $418 million payment and significant rule changes, has influenced the ongoing lawsuits. The judges preferred to allow the individual cases to continue before considering consolidation. Some companies, like HomeServices of America, have yet to settle and opposed the consolidation motion. The panel emphasized that the settlements may resolve many claims, potentially reducing the need for consolidation in the future. Plaintiffs’ attorney Michael Ketchmark suggested that more companies may settle following the ruling, as the court’s decision highlights the importance of recent settlements in the ongoing litigation.

Source link