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CoStar Defeats Real Estate Antitrust Suit

 |  February 27, 2023

A California federal judge on Thursday dismissed antitrust claims against commercial real estate information services company CoStar Group Inc, in a feud with an industry rival platform that alleged it was unlawfully boxed out of competition.

US District Judge Consuelo Marshall in Los Angeles found CoStar’s commercial real estate listing practices and contracting terms were not anticompetitive and that allegations in the case failed to show the company held monopoly power.

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The order addressed counterclaims against CoStar in its intellectual property lawsuit against rival Commercial Real Estate Exchange Inc (CREXi).

Washington, D.C.-based CoStar in a statement said CREXi’s “competition claims were long on bombastic hyperbole, but utterly devoid of substance.”

CoStar’s lawsuit alleged CREXi was attempting to use stolen content from CoStar and unauthorized use of its services to build a competing platform.