The plaintiffs in a class action antitrust suit challenging the real estate industry’s commission structure took to the stand Wednesday and Thursday to make the case that the practice of homesellers paying buyer agents is “unfair.” Continue reading
The allegations, the high-profile witnesses slated to testify and all the evidence the jury will and won’t see — it’s all here as the long-awaited Sitzer | Burnett commission trial unfolds this week. Continue reading
An attorney for the Sitzer/Burnett homeseller plaintiffs calls the change a “stunning admission of guilt” on the eve of a class-action trial set to start Oct. 16. Continue reading
The homeseller plaintiffs agreed to a two-month extension of deadlines related to a proposed deal with MLS PIN after the federal agency asked for time to assess the deal’s “competitive impact.” Continue reading
The antitrust enforcer suggests the rule changes in the proposed deal don’t go far enough. Plaintiffs’ attorneys say the agency has failed to articulate its specific concerns. Continue reading
A judge struck down claims that defendants conspired to “fix,” “maintain” and “increase” prices for buyer brokerage services, but allowed claims they sought to “control” prices to proceed. Continue reading
The deal resolves claims in both the Sitzer and Moehrl antitrust cases. The franchisor agreed to change its business practices, including “no longer forcing homesellers to pay buyer’s agents.” Continue reading
Judge Patti Saris, of the U.S. District Court in Massachusetts, preliminarily approved the deal after the settlement fund was restructured. Continue reading
Exact terms will be revealed when the plaintiffs ask the court to approve the deal, but an attorney for the plaintiffs says the franchisor is the first of the defendants to agree to “change its practices.” Continue reading
In addition to selling Empower and Optimal Blue, the FTC consent order would require ICE and Black Knight to seek prior approval before acquiring an interest in another loan origination system. Continue reading