US sues six of the biggest landlords over “algorithmic pricing schemes”
The US Justice Department today announced it filed an antitrust lawsuit against “six of the nation’s largest landlords for participating in algorithmic pricing schemes that harmed renters.”
One of the landlords, Cortland Management, agreed to a settlement “that requires it to cooperate with the government, stop using its competitors’ sensitive data to set rents and stop using the same algorithm as its competitors without a corporate monitor,” the DOJ said. The pending settlement requires Cortland to “cooperate fully and truthfully… in any civil investigation or civil litigation the United States brings or has brought” on this subject matter.
The US previously sued RealPage, a software maker accused of helping landlords collectively set prices by giving them access to competitors’ nonpublic pricing and occupancy information. The original version of the lawsuit described actions by landlords but did not name any as defendants.
