In August 2003, Realtysellers (Ontario) Ltd. brought claims against the Canadian Real Estate Association (CREA), the Toronto Real Estate Board (TREB), certain of their respective directors and officers for damages in the amount of $25 million. Realtysellers’ claim included allegations that in an attempt to limit the competitive threat to traditional real estate brokers posed by some of Realtysellers’ business programs, the defendants engaged in an anti-competitive conspiracy to exclude some of Realtysellers’ listings from access to the multiple listing service (MLS) and that Real Estate News prevented it from publishing certain of its advertising.
Without disclosing terms, the parties announced on January 8, 2004, that they had reached an out-of-court settlement, whereby the litigation was dismissed.
Realtysellers was represented by Goodmans LLP, with a team that included Fred Myers, Dan Gormley and Ted Key. CREA and certain of its directors and officers were represented by John Laskin and Stuart Svonkin of Torys LLP. TREB and certain of its directors and officers were represented by Michael Harpur, Alan Dean and Bruce Graham of Gowling Lafleur Henderson LLP.
Metroland Printing, Publishing & Distributing Ltd. was represented by Robert Cohen of Cassels Brock & Blackwell LLP.