Redfin On May 3, Entered Into Proposed Settlement To Resolve On Nationwide Basis Pending Class Action Litigation Gibson V. NAR, No. 4:23-cv-00788; Agreed To Pay $9.25M Into Qualified Settlement Fund Within 30 Days Of Court's Preliminary Approval Of Settlement Agreement
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Redfin has agreed to a proposed settlement of $9.25 million to resolve the nationwide class action litigation, Gibson v. NAR, No. 4:23-cv-00788. The settlement requires Redfin to pay into a Qualified Settlement Fund within 30 days following the court's preliminary approval of the settlement agreement, according to an SEC filing.
May 06, 2024 | 12:38 pm
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Redfin has agreed to a $9.25 million settlement in the Gibson v. NAR class action lawsuit, to be paid into a Qualified Settlement Fund within 30 days of court approval.
The settlement of $9.25 million is a significant financial outlay for Redfin, which could impact its short-term financial position and potentially investor sentiment. The resolution of the lawsuit removes a legal uncertainty, but the immediate financial impact is likely negative due to the substantial payout.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100