Real Estate Antitrust Decision
Earlier this month, United States District Court Judge Leonard Sand ruled “that he would hear conspiracy charges filed by BrokersNYC against the Real Estate Board of New York and others, but dismissed monopoly charges.” According to the Real Deal:
The suit, filed in 2005, claims that a conspiracy prevented REBNY broker listings from being shared with an outside listing service, a possible breach of federal antitrust regulations. Judge Leonard B. Sand also dismissed monopoly charges against REBNY, Online Residential Inc., RealPlus LLC, Terra Holdings LLC, Brown Harris Stevens, Halstead Properties Realty Ltd., the Corcoran Group Inc., Bellmarc Realty, Sotheby’s International and several brokers and individuals, including REBNY president Steve Spinola. Sand’s Aug. 6 ruling said that they did not act as a monopoly because they did not constitute one company. Sand also dismissed BrokersNYC’s tortious interference claim, which would have required proof that malicious attempts were made to hurt its business.
Here is a copy of the opinion.
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