In a startling development, the U.S. Department of Justice (DOJ) is weighing the possibility of issuing a statement of interest in a series of class action lawsuits centering on allegations of antitrust violations by RealPage and property owners. The claim asserts that RealPage’s software solutions were employed to manipulate rental prices across national housing markets.
The Justice Department, in a filing made public on Thursday in a Tennessee federal court, emphasized its particular interest in the application of the Sherman Act regarding the utilization of algorithms by businesses to influence pricing. This has become an increasingly significant concern in a world where companies use algorithms for price setting, often with the aim of raising prices, further complicating the terrain of antitrust regulation.
The lawsuit, which was consolidated in a Tennessee federal court in April, focuses on a specific category of RealPage products, encompassing revenue management software solutions. Both RealPage and property owners stand accused of breaching the Sherman Act, in addition to infringing antitrust and consumer protection laws in over 40 states.
