The Department of Justice (DOJ) has filed an antitrust lawsuit against RealPage, a real estate software company, claiming that its pricing algorithm enables landlords to illegally coordinate rent increases. Attorney General Merrick Garland stated in a press release that the algorithm allows landlords to share confidential information and align their rents, which violates the Sherman Antitrust Act.
The lawsuit, filed in the Middle District of Northern California, alleges that RealPage’s algorithm distorts free competition among landlords. The complaint also mentions that RealPage has approximately 80 percent market share and is accused of preventing families from securing the greatest value for their rental needs.
Several states, including Oregon, Minnesota, California, Colorado, North Carolina, Connecticut, Tennessee, and Washington, have joined the lawsuit against RealPage. The DOJ is seeking to prohibit the company from engaging in anticompetitive practices and is asking for additional relief as deemed appropriate by the court.
Assistant Attorney General Jonathan Kanter emphasized the importance of competition in determining rental prices and stated that the DOJ’s goal is to make housing more affordable for millions of people. The lawsuit is part of the DOJ’s efforts to address anticompetitive behavior in various industries, including technology products like Google and Apple. Please rewrite this sentence.
Source link
