In a significant development within the legal landscape of the real estate and mortgage industry, James Bandy has taken steps to appeal a ruling that saw major players such as the National Association of Realtors (NAR), News Corp., and its subsidiary Move dismissed from his lawsuit. The suit initially centered on allegations that these organizations conspired to inflate commission rates and restrict competition in the real estate market. By appealing to the Ninth Circuit, Bandy seeks to challenge the lower court’s finding, which may have wide-ranging implications for the structure and regulation of real estate commissions, as well as the operations of brokerages and listing services nationwide.
Bandy’s appeal could potentially set a precedent for future litigation within the industry, particularly regarding antitrust concerns and the legal frameworks governing real estate practices. Legal experts are watching closely, as the outcome may either reinforce or reshape existing market structures that guide how real estate transactions are conducted, potentially affecting both consumers and agents alike. As the appeal progresses, stakeholders within the mortgage and real estate sectors are bracing for the ramifications of the Ninth Circuit’s decision, which may either uphold the status quo or pave the way for more competitive practices in the industry.
**Key Points:**
– James Bandy files an appeal with the Ninth Circuit following a dismissal of his lawsuit.
– The original lawsuit involved allegations against NAR, News Corp., and Move regarding inflated commission rates.
– The appeal aims to challenge the lower court’s decision, potentially affecting competition in the real estate market.
– The outcome may set a precedent for future antitrust litigation in the industry.
– Stakeholders are closely monitoring the appeal, as it could alter the operational landscape for real estate practices.
You can read this full article at: https://www.housingwire.com/articles/plaintiffs-appeal-dismissal-of-nar-news-corp-in-fake-leads-suits/(subscription required)
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