Sperling Kenny Nachwalter, along with its co-counsel at DiCello Levitt LLP and Webster Book LLP, has filed an antitrust class action against CoStar, alleging that it has illegally monopolized the internet commercial real estate listing and information services markets through a scheme of anticompetitive agreements and contracts. As a result of this scheme, CoStar has substantially increased the price of subscribing to these services, leading to higher costs involved in buying and selling real estate throughout the country.
The complaint alleges that CoStar violated Section 1 and 2 of the Sherman Act by (i) entering into anti-competitive agreements with the three largest brokerage firms committed to not compete with CoStar and (ii) using contract terms to prevent customers from sharing customer data and information with CoStar competitors. These anti-competitive agreements and contract terms have allowed CoStar to substantially raise the prices of subscriptions to its LoopNet and CoStar products.
The case, Shapiro Hospitalities LLC d/b/a Grand & Co. v. CoStar Group, Inc., et al., Case No. 1:26‑cv‑01027, has been assigned to Judge Giles in the Eastern District of Virginia and the complaint is available here. Please contact the lawyers below if you purchased LoopNet or CoStar subscriptions from 2022 to present and are interested in becoming a class representative.
Joseph Vanek
312-445-4940
Greg Asciolla