WASHINGTON (AP) — The Justice Department filed an antitrust lawsuit Friday against real estate software company RealPage Inc., accusing it of an illegal
FILE - The Department of Justice seals is seen during a news conference at the DOJ office in Washington, May 16, 2023. WASHINGTON — The Justice Department filed an antitrust lawsuit Friday against real estate software company RealPage Inc., accusing it of an illegal scheme that allows landlords to coordinate to hike rental prices.
The algorithm allows landlords to align their prices and avoid competition that would keep rents down, Justice Department officials said. The complaint quotes one RealPage executive as saying “there is greater good in everybody succeeding versus essentially trying to compete against one another in a way that actually keeps the entire industry down.”
Attorneys general in several states have separately sued RealPage alleging an illegal price-fixing scheme over its algorithmic pricing software.
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