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A judge overseeing the Gibson/Umpa commission case on Thursday granted final approval for nine settlements involving companies including Compass and Douglas Elliman.
Judge Stephen Bough granted the final approval. In addition to Compass and Douglas Elliman, the settlements involve The Real Brokerage, @properties, Redfin, Realty ONE Group, Engel & Völkers, HomeSmart and United Real Estate. Collectively, the companies will pay $110 million.
News of the final approvals was first reported by Real Estate News. Michael Ketchmark, an attorney representing the plaintiffs, confirmed to Inman Thursday that the settlements had received final approval.
“Today’s approval is great news for the class members,” he told Inman in a text. “This has been hard-fought litigation every step of the way. Today, we took a big step towards resolving these cases. We remain confident that the end is in sight.”
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