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Antitrust Lawsuit Accuses 18 Property Management Companies and Yardi Systems of Rent Price-Fixing Scheme Affecting Millions of Renters - Seite 3

Confidential Witness: “It was ridiculous.”

The lawsuit cites also cites confidential witnesses who attest to using Yardi’s RENTmaximizer to set listing prices for apartments, and identifies one, a former leasing consultant for defendant Bridge Property Management, who stated that, in her opinion, “[i]t was ridiculous. We were supposed to be helping these people who couldn’t afford a home. Instead, we were raising rents.’”

Another confidential witness and former employee of Bridge Property Management stated the pricing practice gave “an unfair advantage” to lessors because they “all know what they should be renting for” by using the same pricing platform, the lawsuit states.

The lawsuit brings claims of violation of federal antitrust laws and seeks to recover losses of those who paid inflated rent, as well as injunctive relief putting an end to the price-fixing scheme.

Find out more about the new antitrust rent price-fixing class-action lawsuit against Yardi and 18 property management companies.

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation law firm with a tenacious drive for achieving real results for those harmed by corporate negligence and fraud. Since its founding in 1993, the firm’s determination has earned it numerous national accolades, awards and titles of “Most Feared Plaintiff’s Firm,” MVPs and Trailblazers of class-action law. More about the law firm and its successes can be found at www.hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

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