Though a CMA (Comparative Market Analysis) isn't specifically mentioned in this valuation lawsuit article, the agent is sued for misleading buyers into purchasing an overvalued home. You can read the extensive details, however the gist is that, had the agent properly advised the clients, they would not have made the purchase. A statement was made that this agent also may have withheld details and information that would have led them to pass on the deal.
Whether the plaintiffs prevailed in the suit doesn't matter, as legal fees are always high, even if you're in the right. What is important is whether the real estate agent and their brokerage were able to mitigate legal fees and defense efforts with what might be called a "Self Defense CMA." After all, it's not what you did that counts in court. It's what you can prove that you did.
Actually this one is worst than a bad CMA. The agent in question was also the loan officer and the buyer only started the lawsuit after they saw the comps on the formal apprasial.
So sounds like some peeps will likely be coughing up the cash and/or heading to the slammer for this little mess.