Thanks for posting the settlement. I skimmed and it seemed good until section 13: expiration of judgment. This will expire in 5 years. What would prohibit Greystar from re-starting its bad practices 5 years from now? Is this time limit ( 5 years) normal in these cases?
Is this at all similar to how companies share salary data with a third-party firm and then use that firm's data to determine how much they will pay their employees?
> Response: Greystar did not admit wrongdoing as part of the settlement and said in a statement that it “firmly believes that its use of RealPage’s revenue management software complies with all applicable laws.” The company said it will continue to defend itself against claims brought by regulators and cited what it called “unclear regulatory guidance around the use of revenue management tools.”
> “We entered into these settlements to make clear the government’s interpretation of the law and to ensure we continue to do things the right way,” Greystar said.
And yet the agreement basically prevents RealPage from doing 95% of its functionality. "We're going to continue doing things the correct way by stopping the vast majority of what we currently do".
Original title “America’s Largest Landlord Makes Deal With DOJ to Settle Price-Fixing Claims in RealPage Case” compressed to fit within title limits.
Proposed settlement: https://www.justice.gov/opa/media/1410741/dl
Thanks for posting the settlement. I skimmed and it seemed good until section 13: expiration of judgment. This will expire in 5 years. What would prohibit Greystar from re-starting its bad practices 5 years from now? Is this time limit ( 5 years) normal in these cases?
Is this at all similar to how companies share salary data with a third-party firm and then use that firm's data to determine how much they will pay their employees?
> Response: Greystar did not admit wrongdoing as part of the settlement and said in a statement that it “firmly believes that its use of RealPage’s revenue management software complies with all applicable laws.” The company said it will continue to defend itself against claims brought by regulators and cited what it called “unclear regulatory guidance around the use of revenue management tools.”
> “We entered into these settlements to make clear the government’s interpretation of the law and to ensure we continue to do things the right way,” Greystar said.
And yet the agreement basically prevents RealPage from doing 95% of its functionality. "We're going to continue doing things the correct way by stopping the vast majority of what we currently do".