Hanna Holdings jockeys to join Tuccori commissions settlement 

Hanna Holdings wants to join Anywhere, Real and several other brokerages in opting into a commissions settlement for homebuyers — but they may have a fight on their hands.

The plaintiffs in a Pennsylvania antitrust lawsuit known as Davis v. Hanna Holdings have filed an injunction motion seeking to stop the company from opting into the settlement in an Illinois case known as Tuccori.

The case's latest developments: As of March 23, Hanna Holdings had not officially filed paperwork for a preliminary settlement agreement in the Tuccori case. However, the firm's attorneys have asked the judge in the Davis case to pause proceedings because they said a settlement was reached.

If Hanna Holdings does opt into the Tuccori fund, it would deal a significant blow to the Davis plaintiffs, who filed their case nearly two years ago. The lawsuit attracted the attention of the U.S. Department of Justice (DOJ), which filed a Statement of Interest in the case late last year. While the DOJ didn't take a position on the case's outcome, it voiced opposition to the possibility of a dismissal based on Hanna Holdings' arguments.

A reverse auction? In their request for an injunction, the Davis plaintiffs claimed a reverse auction was taking place, suggesting Hanna Holdings had sought the lowest bidder for a settlement agreement. They also noted that Hanna Holdings had returned to the same state they'd successfully argued could not sue them because it lacked jurisdiction to secure a settlement.

"Hanna bought itself a release of Plaintiffs' claims from plaintiffs who not only did not sue Hanna in their case, but could not, given Hanna's lack of personal jurisdiction in Illinois," according to court documents filed March 20.

"While Hanna has not disclosed the specific amount of its settlement, the Tuccori plaintiffs had no leverage over Hanna whatsoever, and there can be no doubt that Hanna paid a bargain-basement price. The losers of this unsavory deal are the injured homebuyer class members whose claims have been sold out from under their feet for a fraction of their true value," the filing alleged.

In a separate filing, Hanna Holdings noted that it intends to respond to the Davis injunction motion by April 3.

Opt-in trend gaining popularity: Opting in to pay settlements through Tuccori — known in court filings as the "global settlement fund" — has become a popular choice for brokerages named in commissions suits brought by homebuyers, with more than a dozen firms choosing this route. However, many of the larger brokerages are continuing litigation through other cases like Batton.