11:07 AM EDT, 04/08/2024 (MT Newswires) -- Real Brokerage ( REAX ) said Monday that it has agreed to pay about $9.3 million as part of a settlement agreement to resolve the Umpa class action lawsuit accusing the company of violating antitrust laws.

"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," the company said.

As part of the settlement, the company said it would pay about $9.3 million to a qualified settlement fund and implement changes to its business practices such as clarifications on the negotiability of commissions and the inclusion of listing broker compensation offers in client communications, among others.

Real Brokerage ( REAX ) said the settlement deal remains subject to final court approval.

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