Arizona, Others Sue Zillow and Redfin over $100M Deal

Arizona, others sue Zillow and Redfin over $100M deal

(The Center Square) - Arizona joined four other states and the Federal Trade Commission in filing a lawsuit on Wednesday against Zillow and Redfin over their $100 million contract agreement.

US Federal Trade Commission files antitrust lawsuit against Zillow and Redfin

The US Federal Trade Commission (FTC) on Tuesday announced a lawsuit against Zillow and Redfin, alleging the real estate technology companies violated federal antitrust laws through agreements that eliminated competition in the online rental advertising marketplace. The lawsuit alleges that in February, Zillow paid Redfin $100 million under a “Partnership Agreement“, requiring Redfin to exit the multifamily rental advertising business, terminate…

Arizona, others sue Zillow and Redfin over $100M deal - Everett Post

(The Center Square) – Arizona joined four other states and the Federal Trade Commission in filing a lawsuit on Wednesday against Zillow and Redfin over their $100 million contract agreement. The plaintiffs are asking the U.S. District Court for the Eastern District of Virginia to block the deal between the companies and have them divest from each other. In February, the two companies announced an agreement that said Zillow will be the exclusive …

Zillow Stock Skids 4.5% After FTC Lawsuit — Is It Still A Buy Now?

Zillow (Nasdaq: ZG) shares fell 4.3% on Wednesday after the Federal Trade Commission (FTC) filed an antitrust lawsuit against the company and Rocket Companies' (NYSE: RKT) subsidiary Redfin, alleging that the real estate platforms entered into an unlawful agreement to suppress competition in the online rental housing advertising market. Rocket shares fell 3% during after-hours trading. The FTC complaint highlighted a $100 million (£74 million) a…

Why the FTC is targeting Zillow and Redfin's rental deal

Despite rumors earlier this year that the Federal Trade Commission (FTC) was investigating Zillow and Redfin over their $100 million rental syndication deal, the announcement that the FTC was suing the two companies still carried an element of surprise. “This shows that the Federal government is still looking hard at the realty space,” Chuck Cain, an attorney and the president of Alliance Solutions, wrote in an email. “Those who thought the curr…