Nashville Federal Court Appoints Scott+Scott Attorneys at Law LLP to Co-Lead RealPage Rent Price Fixing MDL

NEW YORK–(BUSINESS WIRE)–Scott+Scott Attorneys at Law, LLP (“Scott+Scott”), an international anti-trust and consumer rights litigation firm, is pleased to announce that the federal district court overseeing the case entitled In Re: RealPage, Inc., Rental Software Antitrust Litigation (No. II) has today appointed Scott+Scott to act as co-lead counsel for renters nationwide. This case is significant not only for its impact on multi-family housing markets across major American cities, but for exposing the potential for artificial intelligence (“AI”) to facilitate price fixing and undermine competition.

For over a decade, RealPage has marketed itself as helping owners and property managers in the multi-family and student housing rental markets to “outsource daily pricing and ongoing revenue oversight.” But as Plaintiffs allege, RealPage became a forum for dozens of property managers to exchange information and agree on rent hikes across the country, causing an unprecedented rise in rents – and compounding the housing crisis in many cities, including Atlanta, Dallas, Nashville, Phoenix, Orlando and Seattle. Indeed, when asked in 2021 about RealPage’s role in rapidly rising rents, Andrew Bowen, RealPage’s then Vice President of Investor Markets reportedly replied, “I think it’s driving it, quite honestly.”

The practice surfaced in October 2022, following Pro Publica’s reporting, leading to over thirty-five suits across the country that were ultimately consolidated for pre-trial purposes before Chief Judge Waverly D. Crenshaw in the Middle District of Tennessee. The case raises important questions about the intersection of AI and antitrust law. It is expected to set a number of important precedents in this rapidly developing area of law and technology.

Scott+Scott is an international law firm known for representing victims of antitrust and securities violations. The Classes in this case consists of apartment and student housing renters who have been squeezed by Defendants’ scheme to raise rents, pricing lower income households out of the property market, at a time when inflation led to higher prices for food and services. Based on the firm’s track record and reputation, courts around the country have repeatedly tapped the firm to act as lead counsel in class actions, including:

• In re Foreign Exchange Benchmark Rates Antitrust Litig.: Scott+Scott recovered over $2.3 billion from the world’s largest banks for fixing the price of foreign exchange;
• In re GSE Bonds Antitrust Litig.: Scott+Scott obtained a $386 million settlement on behalf of purchasers of bond purchasers; and
• In re Cattle and Beef Antitrust Litig.: Scott+Scott is acting for cattle ranchers who suffered as a result of the Big 4 Meat Packers’ conspiracy to suppress the price of beef cattle.

Commenting on the appointment, Scott+Scott’s managing partner David Scott noted: “Housing affordability is at the forefront of the national conversation, and rightfully so given the number of Americans dealing with housing insecurity. We look forward to prosecuting this claim on behalf of those who can least afford the dramatic rent increases witnessed in recent years.”

Patrick Coughlin, who will lead Scott+Scott’s team in this case stated: “Property owners and managers got together via RealPage and broke the law by agreeing to inflated rents. We will make sure that they are all held accountable for undermining competition in the real estate sector – and seek triple damages under well-established antitrust law.”

About Scott+Scott LLP

Scott+Scott has significant experience in prosecuting major consumer rights, securities and antitrust actions throughout the United States and Europe. The firm represents individuals, pension funds, foundations, and other entities worldwide with offices in New York, London, Amsterdam, Berlin, Connecticut, California, Texas, Arizona, Virginia and Ohio.

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Contacts

Scott+Scott Attorneys at Law LLP
Glorimar Perez
(813) 495-7291
gperez@mww.com