Real Brokerage announces settlement agreement in class action litigation

The Real Brokerage announced that it has entered into a settlement agreement to resolve the pending class action litigation, Umpa v. NAR, 4:23-cv-00945, on a nationwide basis. This settlement conclusively addresses all claims asserted against Real in the Umpa lawsuit, releasing Real, its subsidiaries, and affiliated agents from these claims. The settlement does not constitute an admission of liability by Real, nor does it concede or validate any of the claims asserted in the litigation. Under the terms of the settlement agreement, Real has committed to paying $9.25 million into a qualified settlement fund within 30 days following the court’s preliminary approval of the settlement agreement. The Company does not foresee the settlement terms having a material impact on its future operations. The settlement agreement awaits preliminary and final court approval and will take effect upon such final approval.