DOJ, 8 state attorneys general sue RealPage for alleged Sherman Act violations in algorithmic pricing scheme

The Justice Department and eight states are suing real estate software company RealPage for allegedly conspiring with property owners to artificially inflate rental prices through an algorithmic pricing system.

The Justice Department and the attorneys general of North Carolina, California, Colorado, Connecticut, Minnesota, Oregon, Tennessee and Washington filed the civil antitrust lawsuit Friday in U.S. District Court Caroline Middle District Court. The 110-page document alleges that RealPage, based in Richardson, Texas, and owned by private equity firm Thoma Bravo, violated Sections 1 and 2 of the Sherman Act and “built a business to thwart the natural forces of competition.” An attorney has not yet entered an appearance on behalf of the defendant.