Spring Way Center Appeals Settlement Approval in National Realtors Commission Lawsuit

The Spring Way Center has appealed a settlement approval in a nationwide lawsuit against the National Association of Realtors, raising concerns over business practices and exclusions.

The Spring Way Center has officially filed an appeal against the ruling of Judge Stephen Bough, who recently approved a settlement agreement related to the nationwide commission lawsuit involving the National Association of Realtors (NAR).

This appeal was submitted just one day after the approval hearing concluded.

Concerns from Legal Experts

On November 27, a Spring Way objector, who had previously acted as a lead plaintiff in the Moratis commission case in Pennsylvania, approached the Eighth Circuit Court of Appeals with their appeal.

This objection drew on concerns raised during the final approval proceedings by Tanya Monestier, a law professor at the University of Buffalo, along with attorneys from Knie & Shealy—who represent plaintiffs in a related commission lawsuit based in South Carolina.

Monestier voiced her apprehensions about the implications of the settlement on business practices and contested the attorney fees that were set aside for plaintiffs.

Moreover, she urged the court to revisit its earlier decisions, claiming it lacked the jurisdiction to require in-person attendance at the final approval hearing, a move that contradicted previous assurances that class members would have the opportunity to share their opinions.

Objections to the Settlement

Additionally, the plaintiffs in the Burton case expressed their dissatisfaction regarding the expansive nature of the settlement.

They questioned why many brokerages in South Carolina hadn’t been automatically included, fearing this omission might allow certain states to slip past accountability.

They also criticized the $2 billion annual transaction volume threshold used to calculate settlement payments, describing it as an arbitrary measure.

During the final approval hearing, Judge Bough dismissed both Monestier’s motion and the objections raised by the Burton plaintiffs.

The notice of appeal filed by the Burton group reflects their challenge to Bough’s decisions regarding both their objections and Monestier’s motions.

Response from the NAR

It’s noteworthy that this settlement faces competition from other agreements involving major players like Anywhere, RE/MAX, and Keller Williams, all of which are also under scrutiny and have encountered similar appeals.

In response, a representative from the NAR expressed confidence in the soundness of the court’s decision, reaffirming their commitment to defending the settlement as it moves through the appellate process.

Source: Housingwire