Down the Rabbit Hole: Can NAR Afford to Appeal?
Let's talk about supersedeas bonds...
I recently saw a presentation from NAR itself giving a Class Action Litigation Overview that had this slide in it:
The important point is the second bullet:
It is highly likely that no matter which side prevails at trial, the losing side will appeal. That means a definitive ruling is not imminent. It will be several years before we reach a conclusion.
Ever since the Moehrl case was filed, I thought as NAR does here. Sure, these lawsuits are a serious threat but surely, the industry has years and years to figure things out as the lawsuit makes its way through district court, then appellate court, and then possibly the Supreme Court.
Nothing will be decided for years.
Then a lawyer friend told me about supersedeas bonds, also known as appeal bonds. Now I’m not sure that NAR and the four corporate defendants can even afford to appeal.
Buckle up for a boring-ass ride into the nether regions of appellate practice.
Caveat lector: I am not a litigator, never mind an appellate litigator. I have zero experience and what I know comes from basic research. None of this is legal advice; please consult your own attorney.
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