The Seattle-headquartered Redfin (NASDAQ:RDFN) has become the latest brokerage to announce a settlement of lawsuits related to claims of inflated broker commissions – in this case, a $9.25 million agreement.
The company agreed to the settlement on Friday and disclosed it today in a regulatory filing with the U.S. Securities and Exchange Commission. The settlement, which requires court approval, will resolve pending class action lawsuits filed in the U.S. District Court for the Western District of Missouri and will also protect the company from litigation in similar cases in other jurisdictions.
“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.
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