Coldwell To Pay $4.5M To Settle Real Estate Reps' Suit
Law360, Los Angeles (January 14, 2016, 9:38 PM EST) -- Coldwell Banker will pay $4.5 million to thousands of California real estate agents and associates who worked under the company's brokers to settle claims they were wrongly classified as independent contractors and denied business-expense reimbursement, according to a state court order issued Wednesday.
Los Angeles Superior Court Judge William F. Highberger granted final approval Wednesday to the class action settlement between Coldwell Banker Residential Brokerage and named plaintiff Ali Bararsani. The court also conditionally certified the class of approximately 5,600 known members and approved setting aside $1.5 million from the $4.5 million settlement for class counsel attorneys' fees and reimbursement of...
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