LivCor, one of the largest landlords in the United States, has entered into a proposed consent decree with the Department of Justice (DOJ) to resolve price manipulation claims made by the department, the DOJ said in a Dec. 23 statement.
On Jan. 7, the DOJ announced it was suing tech company RealPage and six landlords, including LivCor, which operates under asset management company Blackstone. The department accused the landlords of using RealPage’s software to participate in algorithmic pricing schemes that harmed renters.
In its latest statement, the DOJ said LivCor and other landlords “shared competitively sensitive data to generate pricing recommendations using RealPage’s algorithms, which also included anticompetitive rules that aligned their pricing.”…