Judge Stephen R. Bough granted final approval to eight settlements in the Gibson and Umpa commission lawsuits, totaling about $110.6 million, addressing allegations of collusion among brokerage firms to inflate agent commissions.
The settlements came about a year after a Missouri jury determined that the National Association of Realtors and various firms were liable for artificially inflating commissions, prompting significant legal action.
In terms of financial accountability, approximately one-third of the total settlement amount, or $36.8 million, will be allocated to plaintiffs' attorneys, emphasizing the costs involved in prolonged litigation.
The settlements were reached at different times; Compass was the first to negotiate back in March, indicating a strategic approach to minimize overall liability for numerous brokerage firms.
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