On what date was Engel & Volkers dismissed from the EVCS, LLC and Amie Streater action?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
of good faith and fair dealing, third party beneficiary, and promissory estoppel. However,
the Court denied our motion to dismiss with respect to the plaintiffs' claims for breach of contract and declaratory judgment. On November 29, 2024 the plaintiffs and we entered into a settlement agreement by which all claims between plaintiffs and us were settled and we paid to plaintiffs a total am
Source: Item 3 — LITIGATION (FDD pages 17–21)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, Engel & Volkers was dismissed from the action filed by EVCS, LLC and Amie Streater on January 2, 2025. The document states that Engel & Volkers and the plaintiffs entered into a settlement agreement on November 29, 2024, which led to the dismissal. As part of the settlement, Engel & Volkers paid the plaintiffs a total of $200,000.
This dismissal with prejudice means that the case was concluded, and the plaintiffs are barred from bringing the same claim against Engel & Volkers in the future. This type of resolution is favorable for Engel & Volkers as it eliminates the risk of further litigation on the same issues raised in the complaint.
For a prospective franchisee, this information indicates that Engel & Volkers has faced legal challenges from its franchisees in the past. However, it also shows that Engel & Volkers is willing to settle disputes to avoid prolonged and costly litigation. Reviewing the details of such settlements can provide insights into the types of issues that may arise between Engel & Volkers and its franchisees and how they are typically resolved.