DOJ Reaches Settlement with LivCor in Rent-Setting Scheme Case

The Justice Department has reached a proposed settlement with LivCor as part of the department’s drive to halt what it alleged is a scheme among landlords to collaborate on setting rents.

The U.S. and state co-plaintiffs filed a complaint against livcor and five othre landlords in January, alleging that they engaged in anticompetitive practices, including using each other’s competitively sensitive information through common pricing algorithms operated by RealPage to set rents, the Justice Department said in a Tuesday (Dec. 23) press release.

The proposed settlement would require LivCor to refrain from using anticompetitive algorithms, refrain from sharing competitively sensitive information with competitors, accept a court-appointed monitor if it uses an uncertified third-party pricing algorithm, refrain from participating in RealPage-hosted meetings of competing landlords, and cooperate with the united States’ claims against other defendants, according to the release.

livcor did not instantly reply to PYMNTS’ request for comment.

In a statement provided to Reuters, a LivCor spokesperson said: “We remain