Opendoor’s $39 Million Investor Settlement Gets Final Court Nod

Opendoor Technologies Inc.‘s $39 million settlement earned a federal judge’s final approval to resolve allegations the residential real estate company misled investors about its pricing algorithm.

Judge Michael T. Liburdi approved the deal Wednesday and awarded the investors’ lead counsel $9.75 million, or 25% of the sum, in attorneys’ fees and almost $503,000 for litigation expenses. The US District Court for the District of Arizona judge certified a settlement class of those who acquired Opendoor stock traceable to 2020 paperwork issued for its blank-check company merger to go public or documents for a 2021 public offering, as well as ...