artificially inflates rents and urges its clients to hold units vacant to maximize profits , particularly to the detriment of renters in already high-cost cities . This software provider is now at the center of 10 antitrust lawsuits , letters of concern by almost two dozen members of Congress and at least one open investigation by the DOJ .
In the class action lawsuit filed against the software provider , the allegations extend to nine of the company ’ s largest customers . The plaintiffs allege that the software provider colluded with its customers to artificially increase rent prices in violation of federal antitrust laws , specifically the Sherman Antitrust Act of 1890 . A judgment for the plaintiffs in these cases could mean civil penalties and Federal Trade Commission ( FTC ) sanctions for the defendant software provider and the companies , which together manage hundreds of thousands of units nationwide .
What is an Antitrust Violation Under the Sherman Act ?
They keep my brand consistent , time and time again
Arvada
( 303 ) 422-7440
7320 W 52nd Ave Unit A www . fastsigns . com / 232
DTC
( 303 ) 792-0878
10697 E . Briarwood Circle www . fastsigns . com / 221
Lakewood
( 303 ) 922-4444
10790 W . Alameda Ave www . fastsigns . com / 178
Denver Midtown
( 303 ) 399-7446
1485 S Colorado Blvd Ste 150 www . fastsigns . com / 479
Englewood / Littleton
( 303 ) 761-7212
110 E . Centennial Ave www . fastsigns . com / 238
Antitrust laws in the Unites States are comprised of the 1890 Sherman Act , the FTC Act and the Clayton Act of 1914 . The Sherman Act prohibits agreements allowing for unreasonable restraint of trade that affects interstate commerce . The FTC Act bans “ unfair methods of competition ” and “ unfair or deceptive acts or practices .” The Clayton Act of 1914 supplements the Sherman Act by addressing activities not expressly prohibited by the Sherman Act .
At the federal level , the FTC and DOJ enforce antitrust laws . The laws apply to individuals and legal entities at every level of the distribution chain . State attorneys general enforce antitrust laws at the state level , and they can also bring federal antitrust suits on behalf of individuals residing within their states . The laws apply to companies doing business in the U . S ., as well as to foreign companies doing business abroad when the latter adversely affects U . S . consumers . But what constitutes an antitrust violation under the Sherman Act ?
While the Sherman Act does not provide a test to determine if an agreement unreasonably restrains trade , courts have developed a legal standard to determine if or when an agreement constitutes an unreasonable restraint of trade . A plaintiff must prove these three elements of a Sherman Act violation :
Agreement
An agreement must include at least two separate
42 | TRENDS JANUARY 2023 www . aamdhq . org