HousingWireHousingWire
A federal judge has granted preliminary settlement approval in the Hooper commission lawsuit that involves several high-profile real estate brokerages — including eXp World Holdings, Mark Spain Real Estate, Weichert of North America and Atlanta Communities Real Estate Brokerage.
The order signed by U.S. District Court Judge Mark H. Cohen grants early approval for the settlement terms and class certification. It also allows Weichert and eXp to formally join the motion for approval.
Under the judge’s directive, companies involved must notify affected class members and set up a website with details about the settlement within 60 days. Attorneys involved in the case are required to file any requests for legal fees and costs within 45 days.
This is not the final approval. Additional steps, such as a final fairness hearing, will follow before the settlement can be cemented.
The settlement is part of a series of ongoing legal battles over real estate commissions. Plaintiffs have accused brokerages of colluding to keep commissions high.
In April, Cohen stood by his denial of the Gibson commission lawsuit plaintiffs’ motion to intervene in the Hooper case. That ruling came less than a week after Cohen denied the Gibson plaintiffs’ motion to intervene in the Hooper suit.Â
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