Attorneys general from New York, Virginia, Arizona, Connecticut and Washington filed a lawsuit against Redfin and Zillow on Wednesday. The suit alleges that the two companies schemed together to reduce competition in the online housing rental market.
Five U.S. states have filed an antitrust lawsuit accusing Zillow Group and Redfin Corp of running an illegal scheme to stop competing for apartment advertisements.
The Federal Trade Commission is suing real estate giants Zillow and Redfin, alleging the two illegally conspired to reduce competition in the online multifamily rental listing market. Zillow- and Redfin-owned platforms like Zillow Rentals, Rent.com and ApartmentGuide.com are used by millions of Americans searching for their next home, the FTC said.
Zillow allegedly paid Redfin $100 million to stop competing against it in online apartment rental listings, the U.S. Federal Trade Commission said in a lawsuit on Tuesday against the online real estate platforms.
This story originally appeared on Real Estate News.
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