Ralf Kleemann/Adobe Stock Wave of Lawsuits Seek to Hold Software Company Responsible for Rising Rents
"The share of apartments being priced using revenue management software is as high as 79%," Florida attorney Michael Criden said.
July 12, 2023 at 06:10 PM
5 minute read
Antitrust
Florida renters Priscilla and Patrick Parker are just some of the tenants financially impacted by what they say is a price-fixing scheme via revenue management software that violates Florida and federal antitrust laws.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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