CBRE To Pay $100M To End Class Action By Realty Investors

Law360 (August 22, 2018, 6:41 PM EDT) -- A class of real estate investors asked a federal judge in Florida Wednesday to approve a $100 million settlement of their case accusing property management giant CBRE and one of its employees of aiding in a multimillion-dollar embezzlement.

The settlement amount, to be distributed among the 179-member class, is 71.6 percent of the plaintiffs’ total damages, according to the motion for preliminary approval. That makes it a “truly exceptional” outcome given the fact that studies show that class action settlements normally recover less than 10 percent of the class members’ total estimated losses, the motion states.

“Because the amounts of money embezzled...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!