Stock Markets April 9, 2026 01:51 PM

Judge Allows Antitrust Class Action Against Berkshire Unit to Proceed Despite HomeServices $250M Deal

Federal court rejects 'single enterprise' defense and says HomeServices' settlement did not shield deeper-pocketed Berkshire entities

By Priya Menon
Judge Allows Antitrust Class Action Against Berkshire Unit to Proceed Despite HomeServices $250M Deal

A federal judge in Kansas City ruled that Berkshire Hathaway Energy must face a proposed antitrust class action alleging a scheme to raise commissions paid by home sellers, despite a $250 million settlement by HomeServices of America in 2024. The court declined to accept the argument that dealings between the entities created a single enterprise that would bar further claims, and noted filings indicating HomeServices did not intend the settlement to absolve other Berkshire affiliates.

Key Points

  • U.S. District Judge Stephen Bough ruled that Berkshire Hathaway Energy must face a proposed antitrust class action alleging a conspiracy to inflate commissions paid by home sellers.
  • Bough rejected the argument that dealings between Berkshire Hathaway Energy and HomeServices of America formed a "single enterprise" that would preclude additional liability after HomeServices' $250 million settlement in 2024.
  • The court noted HomeServices' November 2024 filing, which asked the court to judge the fairness of the $250 million settlement against HomeServices' own resources, indicating the settlement was not intended to absolve other Berkshire affiliates.

A federal judge has cleared the way for a proposed antitrust class action to proceed against a Berkshire Hathaway affiliate, finding that the case should not be dismissed merely because a related brokerage reached a separate settlement.

U.S. District Judge Stephen Bough, sitting in Kansas City, Missouri, on Thursday rejected an argument from Berkshire Hathaway Energy that its interactions with HomeServices of America constituted a "single enterprise" for antitrust law purposes. Berkshire Hathaway Energy had urged that, because HomeServices settled the underlying claims for $250 million in 2024, the deeper-pocketed Berkshire entity should not face additional damages to home sellers.

Bough disagreed with that position and pointed to indications in the record that HomeServices and the settling parties did not intend for the settlement to shield other Berkshire entities from potential liability. The judge specifically referenced a November 2024 filing in which HomeServices asked the court to evaluate the fairness of the $250 million agreement in light of HomeServices' own resources.

The proposed class action alleges a conspiracy to inflate commissions paid by home sellers to real estate agents. Despite the HomeServices accord, the court ruling means plaintiffs can pursue claims against Berkshire Hathaway Energy in a jury trial.

"I look forward to a jury trial and showing Berkshire Hathaway Energy's role in propping up this conspiracy to pick the pockets of homeowners," said Michael Ketchmark, a lawyer for the home sellers.

Berkshire Hathaway Energy and its counsel did not immediately respond to requests for comment.

The litigation sits against a backdrop of broader litigation and regulatory changes in the real estate sector. A Missouri jury in October 2023 ordered the National Association of Realtors and four brokerages to pay $1.8 billion to home sellers who alleged they had been overcharged. Following that verdict, the National Association of Realtors changed its real estate commission rules. All defendants in that case subsequently reached settlements, but some objectors - including both home buyers and sellers - asked the 8th U.S. Circuit Court of Appeals to void those settlements as inadequate; oral arguments on those objections were held in January.

Attorneys representing plaintiffs in commission-related litigation have stated that settlements tied to these lawsuits, including agreements with parties that did not proceed to trial, exceed $1 billion.

The filings and the court's ruling occurred while Berkshire Hathaway, the Omaha, Nebraska-based conglomerate led by Chief Executive Officer Greg Abel and Chairman Warren Buffett, reported holding substantial liquidity: the company ended 2025 with $373.3 billion in cash and equivalents.

Separately, promotional material accompanying coverage of the case has asked readers whether they should invest $2,000 in BRKb right now, and described a product named ProPicks AI that evaluates BRKb using more than 100 financial metrics to identify stock ideas. That material presented the AI as assessing fundamentals, momentum, and valuation without bias and noted past winners among its recommendations.


This ruling allows the proposed class claims against Berkshire Hathaway Energy to move forward, preserving the plaintiffs' opportunity to seek damages in court despite the earlier settlement by HomeServices of America.

Risks

  • Ongoing litigation risk for Berkshire Hathaway Energy and related entities, which could affect legal expenses and management attention - likely to impact the legal and financial sectors.
  • Uncertainty remains around final resolution of commission-related suits and appeals, including objections in the 8th U.S. Circuit Court of Appeals over prior settlements - this maintains risk for brokerages and trade groups tied to real estate.
  • Potential for additional settlements or jury awards in commission litigation, which could continue to create financial and reputational exposure for large brokerages and affiliated corporate entities.

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