Greystar, one of the country’s largest apartment operators, reached a settlement with nine states to resolve allegations that it was part of a rent-fixing cartel.
The deal would remove Greystar from a sprawling list of landlords being sued by state attorneys general over their use of software from RealPage, which was also targeted in the case. Greystar would pay a $7M fine as part of the deal and agree to limitations on what information it can use to set rents.
Greystar would continue to deny any wrongdoing and deny any antitrust violations. The deal still needs final court approval.