Brief: Douglas Elliman Enters Settlement Agreement To Resolve Certain Brokerage Commission Litigation

Douglas Elliman

29/04/2024 13:08

April 29 (Reuters) - Douglas Elliman Inc  DOUG.N :
    * DOUGLAS ELLIMAN INC. ENTERS INTO SETTLEMENT AGREEMENT TO
RESOLVE
CERTAIN BROKERAGE COMMISSION LITIGATION
    * DOUGLAS ELLIMAN INC: AGREED TO PAY $7.75 MILLION WITHIN 30
BUSINESS DAYS OF PRELIMINARY APPROVAL OF SETTLEMENT BY COURT
    * DOUGLAS ELLIMAN INC: AGREED TO PAY UP TO TWO ADDITIONAL $5
MILLION CONTINGENT PAYMENTS BETWEEN DECEMBER 31, 2025 AND
DECEMBER 31, 2027
    * DOUGLAS ELLIMAN INC: DENIES MATERIAL ALLEGATIONS ASSERTED
AGAINST IT
    * DOUGLAS ELLIMAN INC: AGREED TO MAKE CERTAIN CHANGES IN ITS
UNDERLYING BUSINESS PRACTICES

Source text for Eikon:  ID:nBw7Fj7VJa 
Further company coverage:  DOUG.N 

 ((Reuters.Briefs@thomsonreuters.com;))