Anywhere Real Estate announces $83.5M class action litigation settlement

Anywhere Real Estate announced the terms of a settlement agreement the company has entered into to settle all claims asserted against Anywhere in the Burnett and Moehrl antitrust class action litigation. Under the terms of the proposed nationwide settlement, which is subject to both preliminary and final court approval, Anywhere has agreed to provide monetary relief of $83.5M, which it says is substantially in line with the company’s financial planning as well as injunctive relief. The company does not expect the terms of the proposed settlement to have a material impact on its results of operations, liquidity, or cash flows. The proposed settlement resolves, on a nationwide basis, all claims asserted against Anywhere in the Burnett and Moehrl cases and releases the Company, all subsidiaries, brands, affiliated agents, and franchisees. The proposed settlement is not an admission of liability, nor does it concede or validate any of the claims asserted against Anywhere. “While the Company does not control the timeline, a hearing for preliminary approval of the settlement is expected to occur in November 2023 with final court approval expected in mid-2024,” it added.