Greystar, others settle RealPage rental pricing lawsuit

Core Insights - A group of renters has filed a lawsuit against property managers, alleging that they shared confidential business information with RealPage and coordinated to raise rent prices, violating antitrust laws [3][7] - The settling companies, including Greystar, have denied wrongdoing but agreed to stop sharing nonpublic information with RealPage, which is crucial for preventing price inflation [4][5] - The settlements total over $141.8 million, with Greystar contributing the largest amount of $50 million, pending judicial approval [5][7] Group 1: Lawsuit and Allegations - Renters allege that property managers conspired with RealPage to inflate rental prices through shared confidential data [3][7] - The lawsuit includes several defendants, such as Equity Residential and Brookfield Management, alongside RealPage [3] Group 2: Settlements and Agreements - Settling defendants have agreed not to provide nonpublic data to RealPage for pricing recommendations, marking a significant change in the multifamily housing industry [5] - The settlements range from $550,000 to Greystar's $50 million payment, with a total of 26 class settlements filed [5][7] Group 3: Ongoing Legal Challenges - RealPage and other property managers are also facing an antitrust lawsuit from the Department of Justice and state attorneys general, with Greystar having reached a settlement in that case [6]