DOJ Settlement: LivCor Over Alleged Rent Setting Scheme

here’s a breakdown of the key facts from the provided text:

Main Point: The Department of Justice has reached a proposed settlement with ⁣LivCor, a large landlord, as part of⁢ a larger ‌effort ‍to stop alleged rent-fixing schemes.

Key Details:

* Allegations: The DOJ alleges LivCor and other ⁤landlords ‍collaborated to set rents using algorithms provided by RealPage, sharing competitively sensitive information. This is considered anticompetitive behavior.
* ‍ Settlement Terms (LivCor):

* Must stop using anticompetitive algorithms.
* Must⁤ stop sharing sensitive information with‌ competitors.
* May​ be subject to⁣ a court-appointed monitor if using uncertified pricing algorithms.
* ⁢ Must ​refrain from participating ​in RealPage meetings with competitors.
⁣ * ⁢Must cooperate with the ⁢DOJ’s case against other defendants.
* Other Settlements: The DOJ has also reached proposed settlements with:
* cortland Management
* Greystar management ‌Services
​ * RealPage
* LivCor’s Response: LivCor stated thay remain focused on ‌serving their residents.

In essence, the DOJ⁤ is cracking down on the use of ‍algorithms and data⁤ sharing that it believes artificially inflates rental prices.