Equity Residential, Essex Property Trust, Lincoln Property and other major residential landlords were hit with an antitrust class action Tuesday in California Southern District Court. The suit accuses the defendants of replacing independent pricing with third-party recommendations made by RealPage Inc. to artificially inflate the cost of long-term multi-family rental units. The suit was filed by a team of five law firms including Berger Montague; Hausfeld; and Lieff Cabraser Heimann & Bernstein. Counsel have not yet appeared for the defendants. The case is 3:22-cv-01611, Bason et al v. RealPage, Inc. et al.
Real Estate
October 19, 2022, 3:20 PM