US Judge Approves $359.9 Million RealPage Settlements
A US judge has granted final approval to $359.9 million in class-action settlements in the RealPage pricing software case, covering 41 landlord defendants.
US District Judge Waverly Crenshaw has granted final approval to class-action settlements involving property owners' use of RealPage's pricing software, as reported by Law360/MLex.
The settlements cover 41 defendants and require a cash payment of $359.925 million.
The agreements also include cooperation provisions and non-monetary terms, with the judge concluding they are fair, reasonable, and adequate.
The case stands as one of the most prominent antitrust lawsuits related to algorithmic pricing software in the US rental market, paving the way for further similar litigation.
What Do These Terms Mean?
Class Action: A lawsuit filed by one or more individuals on behalf of a large affected group, where the ruling applies to all group members.
Antitrust: Laws that prohibit agreements and practices that restrict competition and raise prices for consumers.
Algorithmic Pricing: Setting selling prices through computer software driven by data rather than individual decisions.
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