Judge Stephen R. Bough, who supervised the Sitzer/Burnett process, supervises both commissioner’s rights with settlements for approval. At the end of October 2024 he granted the final approval to nine other settlements in the Gibson Suit.
Of the 15 sinking defendants, six were mentioned in the Gibson Suit and nine in the keel suit.
The Gibson Settling defendants include Keyes Co./Illustrated Properties ($ 2.4 million), NexTome ($ 600,000), John L. Scott ($ 1 million), Location ($ 925,000), Real estate ($ 1.5 million) and Baird & Warner ($ 2.2 million).
The keel that settles the defendants include silk ($ 5.5 million), Seven Gables real estate ($ 1 million), Washington Fine Properties ($ 1.3 million), JPAR ($ 700,000), Characteristic properties of Huntington ($ 850,000), Central New York Information Services ($ 125,000), Brooklyn New York MLS ($ 95,000), First Team Real Estate – Orange County ($ 1 million), and Sibcy CLINE ($ 895,000).
During the hearing, Bough will look at a total settlement amount of $ 20.09 million for these agreements. This would yield the total settlement total for the committee’s lawsuits to around $ 1.04 billion.
The settlement amounts are non-citizens, which means that if money is left after all costs, costs and claims are paid, the money will not be returned to the sediment. Class members with approved claims can receive funds via a bank card, check, Zelle or Venmo.
In addition to the agreement to contribute to the settlement fund, the defendants corresponded to the changes of the business practice, who connect with those agreed by aligning earlier and the National Association of Realtors (NAR) In his shock agreement of 2024.
“Each settlement is comparable in structure and content with earlier settlements that this court has already approved,” said the submission. “In combination with the practical change lighting that is reflected in the NAR arrangement, these reforms will promote price competence and over time be expected to bring meaningful benefits for consumers.”
According to the motion, the settlements were reached after “entering into extensive negotiations of the arm.” The parties reportedly only reached agreements “after considering the strengths, risks and costs of continuous lawsuits.”
Members of the settlement class had until 9 May 2025 to submit claims. According to the submission, more than 2.5 million claims were received on this date.
Moreover, there were no objections to the Gibson settlement and only one against the keel scheme. The parties claim that the keel objection is unable to “identify some reason why the settlements are not fair, reasonable and sufficient.”
Given the track record of Bough, which includes the granting of at least preliminary approval to all settlements of the committee – right case – except those of that of Exp World Holdings And Weicert -brokersThey were negotiated with De Hooper – Requirements – Most viewers of the real estate sector expect that the final settlement will take approvals.
