BrokerageIndustry News

Coldwell Banker drops antitrust claims against Iowa Realty

Settlement ends lengthy litigation between rivals

Power up your Indie Brokerage
Don't miss Indie Broker Summit SF, Aug 7, 2017

Coldwell Banker Mid-America Group agreed this month to dismiss a series of allegations against local rival Iowa Realty, including breach of contract, monopolization, attempt to monopolize, and false advertising, according to court documents. The charges related to a lawsuit that Mid-America Group had filed in March 2004. Thomas O. Kuhns, a lawyer for Kirkland & Ellis LLP who represented Mid-America Group, said today he had no comment about the settlement agreement, which was approved Aug. 17 in U.S. District Court in Iowa. Iowa Realty is a part of Home Services of America, a Berkshire Hathaway affiliate. Dan Cornelison, senior vice president and general counsel for Iowa Realty, said today that Iowa Realty is "obviously pleased" with the settlement. "This is the third major antitrust ruling that we've had in our benefit," he said. "We're always glad to focus on how we serve customers instead of trying to spend money with our attorneys." The settlement approved this month resolves...