Justice Department Files Antitrust Lawsuit Against RealPage
Landmark Case Targets Rent-Setting Software Giant
Federal and State Governments Join Forces to Combat Alleged Collusion
In a landmark antitrust lawsuit, the United States Department of Justice (DOJ) has filed a civil action against RealPage, a leading provider of rent-setting software. The lawsuit, filed on Friday, alleges that RealPage engaged in anticompetitive practices that have harmed tenants and stifled competition in the real estate market.
The complaint, which was filed jointly with the Attorneys General of North Carolina and California, accuses RealPage of unlawfully scheming with apartment owners to fix rent prices. The government alleges that RealPage's software facilitated the exchange of sensitive pricing information between landlords, enabling them to coordinate rent increases and suppress competition.
Antitrust Violations Allege
- Collusion to fix rent prices
- Market manipulation through exchange of pricing information
- Stifling of competition and harm to tenants
"This lawsuit is a major step in our ongoing efforts to combat anticompetitive conduct in the technology sector," said Attorney General Merrick Garland. "We will not hesitate to hold accountable those who seek to harm consumers and businesses by engaging in illegal practices."
The lawsuit is a significant victory for tenants' rights advocates, who have long complained about the rising cost of housing. The complaint alleges that RealPage's software has led to artificially high rents, making it more difficult for families to find affordable housing. The government is seeking injunctive relief to stop RealPage's alleged anticompetitive practices and damages to compensate victims of the scheme.
The lawsuit is the latest in a series of antitrust actions brought by the DOJ against major technology companies. In recent years, the government has filed lawsuits against Google, Facebook, and Amazon, alleging that they have abused their market power to stifle competition and harm consumers. The RealPage lawsuit sends a clear message that the DOJ is committed to enforcing antitrust laws and protecting the free market from anticompetitive conduct.
