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DOJ LivCor RealPage Algorithmic Collusion Settlement and Market Impact
DOJ settles with Blackstone’s LivCor in RealPage rent “algorithmic collusion” case
What happened
The U.S. Department of Justice reached a settlement with LivCor, a Blackstone-owned property management firm, over claims that competing landlords shared non-public rental pricing information via RealPage software to coordinate rent increases. LivCor agreed to stop setting prices based on other landlords’ non-public info (including via third-party tools) without admitting wrongdoing.
Why markets should care
This is another signal that regulators are targeting “algorithmic pricing” and data-sharing…
The skinny
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