Ky. Off. of the Att'y Gen., Complaint, Commonwealth v. RealPage, Inc. (filed July 2, 2025)

Citation: Ky. Off. of the Att'y Gen., Complaint, Commonwealth v. RealPage, Inc. (filed July 2, 2025)
Jurisdiction: Kentucky (state)
Source: Official source
Original Source: https://www.ag.ky.gov/Press%20Release%20Attachments/2025.07.02%20Realpage%20C... ↗

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The Attorney General is authorized to bring this suit under KRS § 367.190 and KRS § 367.990,

as well as 15 U.S.C. § 15c, which permits states’ attorney generals to bring parens patriae suits

on behalf of those injured in violation of the Sherman Act. He brings this action in the name of

the Commonwealth of Kentucky and has determined it to be in the public interest to do so.

25. Defendant RealPage, Inc. is a corporation headquartered in Richardson, Texas,

organized and existing under the laws of Delaware. RealPage provides software and services to

managers of residential rental apartments, including the Defendant Landlords. RealPage was a

public company from 2010 until December 2020, when it was purchased by Chicago-based

private equity firm Thoma Bravo, LP, in a transaction that valued RealPage at approximately

$10.2 billion.

26. Defendant BH Management Services, LLC (“BH”), is a limited liability company

headquartered in Des Moines, Iowa, organized and existing under the laws of Iowa. BH operates

in Kentucky, including in the Louisville and Great Cincinnati Markets. During the Conspiracy

Period, BH entered a written contract, paid for, and used at least one RealPage RMS—

YieldStar—to manage some or all of its more than 107,000 apartments nationally, including,

upon information and belief, properties in Kentucky.

27. Defendant First Communities Management, Inc., is a corporation headquartered

in Atlanta, Georgia, organized and existing under the laws of the State of Georgia. First
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Communities operates in Kentucky, including in the Louisville Market. During the Conspiracy

Period, Defendant First Communities entered into a written contract, paid for, and used at least

one RealPage RMS—YieldStar—to manage some or all of its multifamily rental units