Contributed by: Samantha Herrera-Sosa
CoStar, a major commercial real estate information company, is facing a proposed consumer class action lawsuit along with luxury hotel operators including Hilton, Hyatt, and Marriott. The lawsuit, filed by seven residents from various states, including California, Florida, and Illinois, alleges a conspiracy to artificially inflate room rental prices. The plaintiffs are seeking damages under U.S. antitrust law, claiming that this collusion resulted in overpayments for room prices. The lawsuit was filed in a Seattle federal court.
- Price-fixing - the illegal practice of colluding with other firms to control prices