Greystar, which manages dozens of apartment complexes in Southern California, has settled a lawsuit that alleges the property giant and other landlords colluded to keep rents artificially high.
The national apartment landlord and manager was a defendant in an ongoing suit filed last year by the U.S. Department of Justice that focuses on software from RealPage that is used by many apartment operators to set rent prices for vacant units and renewal rates for existing tenants.
The lawsuit alleges Greystar and other landlords were illegally using RealPage to share proprietary data so they could align their prices and drive up rents…