Next week, videotaped depositions are set for eXp and Weichert as part of the Gibson plaintiffs' challenge to their settlements in the Hooper suit, where allegations of reverse auction practices have emerged. eXp's $34 million settlement and Weichert's $8.5 million agreement are being scrutinized as insufficient by the Gibson plaintiffs. The depositions will cover essential communication details, settlement agreements, and negotiations, shedding light on the companies' procedures and potential anti-competitive behaviors in commission offerings.
The videotaped depositions will involve representatives of eXp and Weichert responding to various alleged communications and documents concerning their settlements in the Hooper case.
The Gibson plaintiffs argue that the settlements of $34 million for eXp and $8.5 million for Weichert are insufficient, prompting further legal scrutiny.
Questions in the depositions will address various aspects related to the negotiation processes, including communications between the companies and the plaintiffs' counsel.
This legal proceeding reflects broader concerns about anti-competitive practices within the industry, particularly regarding commission structures and cooperative compensation offers.
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