The Justice Department's Antitrust Division filed a proposed consent decree on September 4 with Pinnacle Property Management Services LLC to settle federal claims that the company engaged in algorithmic coordination and used competitors' competitively sensitive data in anticompetitive practices, the agency said.
The settlement is part of an ongoing federal enforcement action targeting practices in rental markets across the country that the Justice Department says artificially increase housing costs.
Pinnacle becomes the sixth major landlord to agree to such restrictions. The Justice Department previously obtained settlements with RealPage Inc., Cortland Management LLC, Greystar Management Services LLC, LivCor LLC, and Willow Bridge Property Company LLC in the same enforcement action.