After fighting the defendant title insurers’ efforts to force them into arbitration for years, the plaintiffs in a putative class action over alleged overcharges for real estate closing costs now allege the defendants falsely told the court that the mandatory arbitration clauses in their policies had been approved by state regulators.
In a motion filed Aug. 12, the plaintiffs claim to have newly discovered evidence that not only did the state not approve the mandatory arbitration clauses but it denied a request to approve them and required instead that any arbitration under a title policy take place only if the insured agreed to it.
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