Detroit, MI: (Nov-05-07) A class action lawsuit was brought against First American Title Co., alleging that it overcharged for title insurance. Records show that the lawsuit involved 14 title companies who were accused of similar offenses. The lawsuit, filed December 2000, reached an out-of-court settlement in 2006, when the companies agreed to a monetary payout. The deal had a $1.46 million unpaid portion, that was recently shared by the Community Foundation for Southeast Michigan, the State Bar of Michigan Access to Justice Development Campaign and the Habitat for Humanity. The settlement was divided between the three based on recommendations from the attorneys in the case. The settlement was finalized by US District Judge Avern Cohn in Detroit. [
CRAINS DETROIT BUSINESS: TITLE INSURANCE]
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