ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
The U.S. Department of Justice and a lineup of state co-plaintiffs filed an amended complaint this week in an antitrust lawsuit against RealPage Inc. In the updated case, six of the nation’s largest landlords are accused of participating in an algorithmic pricing scheme the DOJ claims harmed renters.
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The landlords named in the amended complaint are Greystar Real Estate Partners LLC, Blackstone Inc.’s LivCor LLC, Camden Property Trust, Cushman & Wakefield Inc. and Pinnacle Property Management Services LLC (which is part of Cushman & Wakefield), Willow Bridge Property Company LLC, and Cortland Management LLC
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The complaint alleges these groups participated in an unlawful scheme to decrease competition among landlords’ apartment pricing. The landlords “actively participated in a scheme” to set rents based on each other’s competitively sensitive information through common pricing algorithms, the DOJ claims.
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