Real Estate Firm Opendoor Agrees to Pay $39M to Resolve US Investor Class Action

Opendoor has agreed to pay $39 million to settle a lawsuit that alleges the company misled investors about the reliability of its pricing technology, according to court documents filed Friday.

The proposed settlement — filed in federal court in Arizona and first reported by Reuters — must still be approved by U.S. District Court Judge Michael Liburdi.

Investors sued the San Francisco-based company in 2022, claiming Opendoor misrepresented its pricing algorithm as an artificial intelligence-powered system that could outpace traditional real estate firms.

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