08:46 AM EDT, 03/22/2024 (MT Newswires) -- Compass (COMP) said Friday that it agreed to pay $57.5 million to settle two class-action lawsuits alleging violations of the Sherman Antitrust Act.

"The settlement resolves all claims in the lawsuits and similar claims in other lawsuits alleging claims on behalf of sellers on a nationwide basis against the company and its subsidiaries," Compass said in a regulatory filing.

The residential real estate broker also said that it agreed to implement some changes to its business practices, including reminding its owned brokerages and agents that the company doesn't require agents to make or accept offers of compensation.

The proposed settlement agreement is subject to court approval, Compass said.

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