03:30 PM EDT, 04/23/2024 (MT Newswires) -- (Updates with share movement in first and last paragraphs and association comment in penultimate paragraph.)

Prologis ( PLD ) and RE/MAX Holdings ( RMAX ) shares rose in recent trading Tuesday after a federal judge in Missouri granted preliminary approval of a settlement in an antitrust case over real estate broker commissions between the National Association of Realtors and home sellers.

Judge Stephen Bough said the proposed settlement is "fair, reasonable and adequate," according to court documents filed Tuesday.

The agreement is still subject to a hearing for final court approval, which is expected to Nov. 26.

The realtor group agreed to pay $418 million in damages and make changes to its rules in March to settle the lawsuit and a series of similar claims.

"We are pleased that the court has preliminarily approved the settlement because it is in the best interests of all parties and class members," an association spokesperson said in an emailed statement to MT Newswires. "It has always been NAR's goal to resolve this litigation in a way that preserves consumer choice and protects our members to the greatest extent possible."

Prologis ( PLD ) and RE/MAX ( RMAX ) shares both gained 0.5%.

Price: 104.63, Change: +0.55, Percent Change: +0.53