In re RealPage, Inc. Rental Software Antitrust Litigation (Equity Residential's $56M Settlement)
Equity Residential agreed to pay $56 million to resolve its portion of In re: RealPage, Inc., Rental Software Antitrust Litigation (No. II), MDL No. 3071, pending before U.S. District Judge Waverly D. Crenshaw Jr. in the Middle District of Tennessee, disclosed in an April 13, 2026 SEC filing. The settlement is one of 37 reached to date, pushing the MDL's combined settlement value past $359.9 million, with Camden Property Trust and Mid-America Apartment Communities each settling for roughly $53 million. A final fairness hearing is scheduled for October 15, 2026.
Why it matters
Extends a wave of nine-figure REIT settlements resolving hub-and-spoke antitrust claims over RealPage's algorithmic pricing software, giving other multifamily owners a rough settlement-value benchmark while leaving separate municipal and state algorithmic-pricing bans, which impose standalone statutory liability, unresolved.
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