BrokerageIndustry News

Judge grants class-action status to Century 21 lawsuit

Realogy promises to 'aggressively defend' against lawsuit
Published on Aug 19, 2010

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by CareyBot

An 8-year-old lawsuit claiming Century 21 Real Estate Corp. and its parent company misused franchisee proceeds after Century 21 was sold in 1995 has new legs, after a judge granted the case class-action status this week.

Attorneys who filed the lawsuit say the class certified by New Jersey Suprerior Court Judge Robert J. Brennan on Tuesday includes at least 1,000 current and former Century 21 franchisees, and possibly 4,000 or more.

In a press release, attorneys for the plaintiffs said they estimate damages suffered "may total in the hundreds of millions of dollars."

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