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This settlement is closed!
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A $1.57 million settlement has been proposed in a class action lawsuit alleging BrokerPriceOpinion.com Inc., First Valuation LLC, First Valuation Services LLC, First Valuation Technology LLC, Cartel Asset Management LLC, Walter Coats and ValuTech Inc., which operate the website BrokerPriceOpinion.com, failed to pay brokers for BPOs they completed on the defendants’ behalf.
If you completed broker price opinions on behalf of BrokerPriceOpinion, First Valuation, Cartel Asset Management, Walter Coats or ValuTech since Dec. 2, 2007 and have not been paid for your services, you may be entitled to compensation from the class action settlement.
BrokerPriceOpinion.com is a website that provides real estate valuation data. The defendants reportedly advertise that their network of more than 95,000 licensed brokers and appraisers provide its “industry-leading” broker price opinions.
The proposed BrokerPriceOpinion settlement will resolve a class action lawsuit alleging the defendants breached contractual agreements with real estate professionals by failing to pay brokers according to the terms of the agreements.
The BrokerPriceOpinion class action lawsuit also alleges the defendants were unjustly enriched by their failure to pay for the broker price opinions.
The plaintiffs allege that more than 15,600 licensed real estate professionals have performed work for BrokerPriceOpinion but have not been paid in accordance with the defendants’ payment terms. According to the BrokerPriceOpinion class action lawsuit, the defendants owe licensed real estate professionals amounts ranging from several hundred dollars to several thousand dollars.
In addition to offering payment to eligible Class Members, BrokerPriceOpinion has also agreed to change its business practices to pay brokers within 90 days for every broker price opinion they complete. BrokerPriceOpinion also agreed not to use standardized calling scripts, emails, or other communications in attempt to delay payment or change payment terms for broker price opinions.
The defendants deny any wrongdoing but agreed to settle the BrokerPriceOpinion class action lawsuit to avoid the burden and expense of ongoing litigation.
Class Members who would like to opt out of or object to the BrokerPriceOpinion class action settlement must do so no later than Oct. 31, 2017.
Who’s Eligible
Class Members of the BrokerPriceOpinion settlement include: “All persons and entities who provided broker price opinions on behalf of Brokerpriceopinion.com Inc., First Valuation LLC, First Valuation Services LLC, First Valuation Technology LLC, Cartel Asset Management LLC, Walter Coats or ValuTech Inc. between Dec. 2, 2007 and the date of preliminary approval and who have not been paid for their services in accordance with Defendants’ terms of payment.”
The BrokerPriceOpinion class action settlement received preliminary approval on Aug. 2, 2017.
Potential Award
Varies.
The settlement money will be distributed to claimants on a pro rata basis. The actual amount each Class Member will receive depends on the total number of Class Members who file timely and valid Claim Forms.
NOTE: Payment will be made in nearly yearly distributions over a period of five years. The first payment will occur within 40 days following the BrokerPriceOpinion settlement’s effective date.
Proof of Purchase
N/A
Claim Form
Claim Form Deadline
10/31/2017
Case Name
Wornicki v. BrokerPriceOpinion.com, Case No. 1:13-cv-03258-PAB-KMT, in the U.S. District Court for the District of Colorado
Final Hearing
5/18/2018 UPDATED
UPDATE: The BrokerPriceOpinion.com Payment Failure Class Action Settlement was granted final approval on September 28, 2018. Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.
UPDATE 2: According to the settlement website, defendants have failed to make their scheduled payment into the settlement fund. The settlement administrator will provide more information as it becomes available. We appreciate your ongoing patience. Top Class Actions will continue to provide updates as we learn more.
Settlement Website
Claims Administrator
Brokerpriceopinion Settlement
Claims Administrator – JND
P.O. Box 6878
Broomfield, CO 80021
1-888-551-9797
Class Counsel
Beth E. Terrell
Jennifer Rust Murray
TERRELL MARSHALL LAW GROUP
Jeffrey A. Berens
BERENS LAW GROUP
Stefan Coleman
THE LAW OFFICES OF STEFAN COLEMAN LLC
Defense Counsel
Glenn W. Merrick
Joseph T. Bernstein
G.W. MERRICK & ASSOCIATES LLC
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15 thoughts onBrokerPriceOpinion.com Payment Failure Class Action Settlement
It’s been such a long time they sent small payment Dec. 2018 with promise spread out over several years for rest. I was looking at something today that reminded me of how they were thieves out and out thieves while I was working to make money for my family. Had to vent and also see if we ever still can receive anything.
I hope they start another case. This company owes me over 4k…
What’s really going on ??
Joined law suit, and they did send the first installment in 2018 and never received another one, as they where suppose to this past year.. So much money owed to me such a waste of confidence in even law suits.