U.S. accuses real-estate software company of illegally coordinating rent prices

NEW YORK, Aug. 23 (Xinhua) -- The U.S. Justice Department and eight states on Friday sued real-estate software company RealPage, accusing the company of deploying a rent-setting algorithm that allows landlords to illegally coordinate price increases.

The civil suit, filed in the Middle District of North Carolina federal court, alleges that the company stifles competition through its algorithm and maintains an illegal monopoly over rent-setting software. RealPage commands an 80 percent market share in commercial revenue management software, the Justice Department said.