How many appeals were filed by objectors to the settlement agreement involving Engel & Volkers?

According to Engel & Volkers' 2025 Franchise Disclosure Document, there were four separate appeals filed by objectors to a settlement agreement. These appeals are listed as Don Gibson, et al v. Monty March, 24-3478 (8th Cir.); Don Gibson, et al v. Robert Friedman, et al, 24-3481 (8th Cir.); Don Gibson, et al v. James Mullis, 24-3473 (8th Cir.); and Don Gibson, et al v. Benny Cheatham, et al, 24-3564 (8th Cir.).

The settlement agreement in question, dated July 12, 2024, came about after a consolidated class action complaint was filed on April 23, 2024, against Engel & Volkers and other defendants. The plaintiffs alleged an antitrust conspiracy related to broker compensation, claiming violations of federal and state antitrust laws, as well as deceptive trade practices. Engel & Volkers, while disputing the allegations, agreed to settle the case on June 18, 2024, with a total monetary settlement of $6.9 million to be paid into a qualified settlement fund.

The final approval of the Settlement Agreement by the court occurred on November 4, 2024. However, the effectiveness of the Settlement Agreement is contingent upon the resolution of the four appeals, which must affirm the final approval. This means that the outcome of these appeals will determine whether the settlement proceeds as planned or if further legal proceedings will be necessary.