Curbio Settles $7.5M Lawsuit for Substandard Work

1 Credits

Curbio has agreed to pay $7.5 million to resolve concerns regarding its business practices and service quality.

The U.S. Attorney’s Office announced that this settlement includes $3.5 million in restitution and credits to more than 180 homeowners in the D.C. area, with $4 million directed to the District. The company, Curbio, known for providing pre-sale renovation services nationwide, faced claims related to the quality of work provided by subcontractors. As part of the settlement, Curbio will take steps to update its business operations to ensure greater transparency and service improvements.

Curbio has committed to revising its marketing practices to offer clearer information to customers, ensuring fees are disclosed upfront, and improving the way it handles consumer concerns. The company, Curbio, will also adjust its contracts to remove certain terms, making them easier to understand. In addition, Curbio has agreed to provide more accurate timelines for project completion. Curbio will work with local regulators to meet all necessary requirements. These changes by Curbio reflect efforts to enhance the customer experience and ensure that Curbio’s practices meet expected standards going forward.

In the renovation industry, Curbio’s approach to pre-sale services has been under scrutiny, making this settlement significant. By addressing these concerns, Curbio aims to rebuild trust and strengthen relationships with homeowners. The company’s commitment to improving transparency shows Curbio’s dedication to ethical business practices and delivering quality service to customers.

 

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Dow Jones Hits New Record Ahead of Key Fed Meeting

The Dow Jones Industrial Average closed at a new record high yesterday, rising 228 points, or 0.6%, driven by anticipation ahead of a Federal Reserve meeting. This marks a significant milestone for the index, surpassing its previous all-time peak. The S&P 500 also saw a slight gain, increasing by 0.1%, edging closer to its own record. However, the Nasdaq composite dipped by 0.5%, weighed down by losses in major technology companies, including Apple and Nvidia, which posted declines and influenced the tech-heavy index.

Oracle stood out with a strong performance, leading the market by jumping 5.1% after posting favorable profit results. Similarly, Alcoa saw a 6.1% boost following its announcement of selling a stake in a Saudi joint venture, which was well-received by investors. Despite these gains, the tech sector’s losses, particularly among larger companies, held back further growth in the Nasdaq.

Market attention is now focused on the upcoming Federal Reserve meeting, where decisions on interest rates are expected to be announced. Analysts are speculating about a potential rate cut, which could mark the first reduction in several years. Such a move may provide economic relief but could also raise concerns about inflationary pressures. The Federal Reserve has kept interest rates high to manage inflation, but with inflation easing, some expect the focus to shift toward stimulating economic growth and supporting employment.

Treasury yields reacted to the speculation, with the 10-year yield falling to 3.62% and the two-year yield slipping to 3.56%. Internationally, stock market performance was mixed, with Hong Kong’s Hang Seng index rising by 0.3% amid economic data from China, while several major markets in Asia, including Japan and South Korea, were closed for holidays.

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Fathom Realty Settles Nationwide Lawsuit for $2.95M

And finally, Fathom Realty has reached a $2.95 million settlement in the lawsuit involving the National Association of Realtors. The settlement, paid in three installments, includes $500,000 soon after court approval, another $500,000 by October 1st, 2025, and $1.95 million by October 1st, 2026. 

The company assures that the payments will not impact its operations. Fathom Realty will also adhere to new rule changes set by the National Association of REALTORS. 

CEO Marco Fregenal stated that this settlement allows the company to avoid ongoing legal costs and focus on business growth. 

Fathom Realty’s stock price has experienced a significant decline, falling from $54 per share in February 2021 to just under $3 per share recently.

 

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