The virtual brokerage defended its settlement in court on Tuesday, asserting that it was not too small and urging the court to reject attempts to reopen negotiations.
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EXp Realty responded to criticisms of its commission lawsuit settlement in a court filing on Tuesday, stating that the agreement was appropriate and should proceed as planned.
The dispute arose from eXp’s $34 million settlement announcement in early October to resolve various commission lawsuits. The settlement was reached through negotiations in a Georgia case called Hooper, prompting eXp to request a stay in the Gibson case in Missouri.
However, the Gibson homeseller-plaintiffs argued that the settlement was too favorable to eXp and pushed to reopen negotiations. In response, eXp defended its settlement in new court documents filed on Tuesday.
The company argued that staying the Gibson case while the settlement is reviewed by the Hooper court would not cause any harm. It also maintained that the Gibson plaintiffs could address their concerns in the Hooper court or in Missouri if the case returns there.
eXp disputed claims that it received a sweetheart deal and emphasized that discussions about the settlement size were irrelevant to the stay request. The company also asserted that there is no rule requiring a defendant to settle with the first entity to sue in a class-action situation.
The court will ultimately decide how to proceed with the conflicting claims between eXp and the Gibson homeseller-plaintiffs.
eXp Realty argued in its recent court filing that the proceedings in Missouri should be stayed, allowing the case to proceed in Georgia instead. The filing emphasized that there would be no prejudice to the plaintiffs or their case if a stay were granted to eXp. Additionally, eXp pointed out that the plaintiffs failed to provide any supporting cases that would prevent a stay from being granted.
You can read eXp’s full court filing by clicking on the following link: [eXp’s court filing](https://docs.google.com/viewer?url=https%3A%2F%2Fassets.inman.com%2Fwp-content%2Fuploads%2F2024%2F11%2FUS_DIS_MOWD_4_23cv788_d69865701e30167_NOTICE_of_filing_Reply_Suggestions_in_Support_of_M.pdf).
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