Douglas Elliman Inc. (DOUG) has provided an announcement.
Douglas Elliman Inc. has reached a settlement to resolve class action litigations, agreeing to a $7.75 million payment and additional contingent payments totaling up to $10 million, based on future financial conditions. The settlement, which addresses nationwide claims without admitting liability, also includes business practice revisions, such as clearer commission disclosures and the prohibition of listing sorting based on compensation. Final court approval is pending for the agreement to take effect.
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