Billion

Record-Breaking Verdict: Jury Awards Nearly $1 Billion in Defective Seatbelt Lawsuit against Mitsubishi Motors

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PHILADELPHIA – A Philadelphia jury has awarded over $976 million in a lawsuit involving a defective seatbelt that resulted in a man becoming quadriplegic. The verdict was delivered on Monday, with the jury awarding more than $176.5 million in compensatory damages to the plaintiffs, Francis and Soomi Amagasu. In addition, they ordered Mitsubishi Motors Corp., the sole defendant in the trial, to pay $800 million in punitive damages. The lawsuit centered around the claim that Mitsubishi failed to adequately test the safety of its seatbelt restraint system in its 1992 model 3000GT sports car. According … Read more

Federal Jury Awards $5.3 Billion Verdict in Antitrust Case Against National Association of Realtors and Real Estate Franchisors

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KANSAS CITY, Mo. — The National Association of Realtors and major real estate franchisors have been found guilty in an antitrust case that accused them of colluding to inflate real estate commissions. A federal jury issued a verdict in favor of approximately 500,000 Missouri homesellers seeking reimbursements for $1.78 billion in commissions paid to buyer brokers. The jury awarded $1,785,310,872 in damages, which will be trebled to $5.356 billion under the law. The case focused on whether there was a conspiracy among the defendants — NAR, Keller Williams, Realogy, RE/MAX, HomeServices of America, and its … Read more

Landmark Verdict: Real Estate Industry Practices Challenged in $1.8 Billion Lawsuit

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Kansas City, Missouri – A federal jury has ordered the National Association of Realtors (NAR) and several major real estate brokerages to pay nearly $1.8 billion in damages after finding that they artificially inflated commissions paid to real estate agents. The verdict stems from a class-action lawsuit filed in 2019 on behalf of 500,000 home sellers in Missouri and border towns, alleging the defendants violated federal antitrust law by requiring sellers to pay the broker representing the buyer of their homes. The NAR, which plans to appeal the verdict, could potentially face over $5 billion … Read more

Kansas City jury slams real estate industry with $1.8 billion collusion verdict

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Kansas City, Missouri – A jury in Kansas City, Missouri, has awarded $1.8 billion in damages to home sellers who claimed that the National Association of Realtors and several major real estate brokers in the country colluded to inflate real estate commissions. The potential award could triple to more than $5 billion under US anti-trust laws. The unanimous verdict comes at a time when mortgage rates are inching up to 8% and home sales are struggling. This ruling could potentially bring about substantial changes to how home sellers pay real estate agents. Currently, the National … Read more