ZipRealty Will Pay $5M for Release of All Claims

ZipRealty

, a leading national real estate brokerage and provider of proprietary technology and comprehensive online marketing tools for the residential real estate brokerage industry, today announced a definitive settlement with the California State Labor Commissioner in the previously disclosed lawsuit, which sought damages in excess of $17 million.  The settlement contains no admission of wrongdoing, and ZipRealty has agreed to pay $5 million in exchange for a release of all claims brought by the Labor Commissioner.  The settlement funds will be held in an account for distribution to those individuals who were employed by ZipRealty during the relevant time period.