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After a year-long battle with plaintiffs, and eventually with the judge presiding over the case, Hanna Holdings announced in a legal filing on Friday that it had reached an agreement to settle a commission lawsuit.
The legal filing in the case known as Gibson didn’t spell out the terms of the settlement agreement, including how much the Pennsylvania-based independent brokerage agreed to pay in damages.
But for Hanna Holdings, the legal filing signaled an end to the court battles that have engulfed the real estate industry.
“The Parties have reached an agreement in principle to settle all claims asserted against Hanna Holdings in this action as part of a proposed nationwide class settlement,” the brief legal filing reads.
The agreement is subject to final approval by Judge Stephen Bough, who is presiding over the case.
Bough himself became the subject of Hanna Holdings’ legal strategy in the Gibson case, as the brokerage’s attorneys requested to move the case out of Missouri federal court to a court in the firm’s home state.
Hanna Holdings also demanded that Bough recuse himself from the case, saying that political donations made by plaintiffs’ attorneys to Bough’s wife, who is a city councilwoman, were a disqualifying conflict of interest.
Hanna Holdings was joined in the recusal request by two other firms that are still engaged in legal battle: Berkshire Hathaway Energy and Crye-Leike. Bough denied the request.
Crye-Leike and Berkshire Hathaway Energy also requested that Bough transfer the case to courts in their home states. Bough has yet to rule on those requests.
But shortly after the filing by Hanna Holdings on Friday, Bough denied the firm’s request to transfer the case, saying the request was moot after Hanna Holdings settled the case.
In a text message, lead plaintiffs attorney Michael Ketchmark called on the remaining defendants to reach settlement agreements, as well.
“We are glad that Hanna Holdings has agreed to the practice changes and the other settlement terms,” Ketchmark said. “We encourage Berkshire Hathaway Energy Company and the remaining holdouts to do the same.”
