• Big day in the court for a bunch of franchisers as a judge kindly gives a tentative thumbs up to their multi-million dollar settlements in three pretty heavyweight lawsuits. Cue the confetti and popped corks, right?
• These suits are aptly named Sitzer | Burnett, Moehrl and Nosalek. Try saying those three times fast. Oh, and spoiler alert: they’re not as fun as they sound.
• Final approval of these settlements could happen as early as next year. Party hats at the ready.
A Franchisee Fiesta? Not So Fast!
The Ballad of Sitzer, Moehrl, and Nosalek
Let’s start with these ominous sounding names. Sitzer | Burnett, Moehrl and Nosalek aren’t latest health drink ingredients or Star Wars characters, but major lawsuits that have had the franchising world on the edge of their Herman Miller office chairs.
Don’t worry, no need to fetch your law degrees from under your beds. To cut a very long story short, these suits centered on Tweedlesome Threesome allegedly violating antitrust laws and making it hard for everyone else to compete. The headline? They apparently didn’t play nice in the real estate sandpit.
Money Rain: Multi-million Dollar Settlements
In these lawsuits, dollars were thrown around like confetti at a royal wedding. The settlement amount? We’re talking MULTI-MILLIONS here, folks. So yes, the defendants may be reaching for some Tums right about now.
A Gavel Drop: Judge’s Preliminary Approval
This week, the judge said “might as well” to the proposed settlements in a legal version of “you may now kiss the bride”. The agreement received preliminary approval which means it could become official as early as next year. Like any cliff-hanger, there’s a “to be continued…” vibe.
Final Approval: A 2022 Sequel?
Folks, you have got to love the drama of a good courtroom saga. We’ll have to wait till next year to see if these settlements stand the test of scrutiny for final approval. Until then, pop those party poppers, but hold on to the big fireworks.
Our Witty Hot Take
To our dearly beloved real estate friends, sorry to break it up but your soap opera-esque thrillers just got another season. Sure, the initial victory lap might feel good with this preliminary approval, but remember we’re still stuck in the court-room intermission. So, brush up your legalese and check your bank balance (we’re sure it’ll be just fine indeed with a few million less), because as they say in showbiz – “To Be Continued…”
And next year? Well, that could be the grand finale of this riveting saga. In the meantime, let’s snack on some popcorn – because who doesn’t love watching a good drama unfold from the comfortable distance of spectatorship? Rights to the movie version are still up for grabs.
Original article: https://www.inman.com/2023/11/20/anywhere-re-max-commission-lawsuit-settlements-move-forward/
