Cherry et al v. RealPage Inc et al

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UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF TENNESSEE
NASHVILLE DIVISION
IN RE: REALPAGE, INC., RENTAL
SOFTWARE ANTITRUST
LITIGATION (NO. II)
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Case No. 3:23-md-03071
THIS DOCUMENT RELATES TO:
ALL CASES
INJUNCTION ORDER
This matter came before the Court for a Fairness Hearing on October 15, 2026, pursuant to
Rule 23(e) of the Federal Rules of Civil Procedure, on Plaintiffs’ Motion for Final Approval of
Settlements (“Motion”) (Doc. No. 1552). 	The Court has granted final approval of the
Settlements (“Final Approval Order”) and has directed the entry of the final judgment under Rule
54(b) as to the Settling Defendants (“Final Judgment as to Settling Defendants”). The Court has
considered the Motion and accompanying Memorandum of Law, the Settlement Agreements,
amendments thereto, the supporting declarations, the record in this Action, the objections, and
the arguments of counsel presented at the Fairness Hearing, and good cause appearing, the Court
hereby finds as follows:
1. 	Jurisdiction. The Court has subject-matter jurisdiction over this Action and, for
purposes of the Settlements, personal jurisdiction over all Parties, including each Settlement Class
Member, and over the Settling Defendants for purposes of their compliance with and performance
of their obligations under the Settlement Agreements.
2. 	Definitions: For purposes of this Injunction Order, the following definitions shall
apply:
a. 	Effective Date. The “Effective Date” of each Settlement Agreement is the date
that, as to the Final Approval Order and associated entry of Final Judgment as to
the Settling Defendants, (1) the time to appeal or seek permission to appeal has
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expired without any timely appeal being taken or (2) if a timely appeal is taken,
the Court’s Final Approval of Settlements and Final Judgment as to the Settling
Defendants have been affirmed in full by the court of last resort to which such
appeal has been taken and that affirmance has become no longer subject to further
appeal or review.
b. 	Plaintiffs. 	“Plaintiffs” are Jason Goldman, Jeffrey Weaver, Billie Jo White,
Brandon Watters, Priscilla Parker, Patrick Parker, Barry Amar-Hoover, Joshua
Kabisch, Meghan Cherry, and Maya Haynes.
c. 	Released Claims. 	The “Released Claims” as to which the injunction set forth
in this Order applies are expressly identified for each Settling Defendant in
Exhibits A1-A37 and Exhibits B1-B13 to this Order and incorporated herein,
which contain the full text of each Settlement Agreement and amendments
thereto.
i. 	For the avoidance of 	doubt, Released 	Claims do not include State
sovereign or quasi-sovereign claims for civil penalties and/or injunctive
relief. (See Doc. No. 1463 at 3; Doc. No. 1587 at 8–12).
d. 	Settlements. 	“Settlements” refer to the settlement agreements incorporated
herein as Exhibits A1-A37 and B1-B13, which were previously filed on the
docket at Doc. Nos. 1250-2 through 1250-5 (Joint Declaration of Interim Co-
Lead & Liaison Counsel in Support of Preliminary Approval, Exhibits A-1
through A- 26); Doc. No. 1398-2 (Joint Declaration of Interim Co-Lead Counsel
in Support of Second Set of Class Settlements, Exhibits A-27 through A-37),
which the Court has finally approved in granting the Motion.
e. 	Settlement Class. 	“Settlement Class” means: All persons and entities in the
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United States and its territories who paid rent on at least one multifamily
residential real estate lease directly to any owner, manager and/or owner-operator
(including to any division, subsidiary, predecessor, agent or affiliate of any owner,
manager and/or owner-operator) on a property subject to a license for RealPage’s
Revenue 	Management 	Solutions, 	Lease 	Rent 	Options 	(“LRO”), YieldStar
(“YS”), and/or AI Revenue Management (“AIRM”) (“RealPage’s RMS”) at any
time during the period of October 18, 2018 through November 21, 2025
(“Settlement Class Period”). 	Specifically excluded from this Class are Opt-
Outs; Defendants; any entity licensing RealPage’s RMS, the officers or directors
of any entity licensing RealPage’s RMS and any entity in which any entity
licensing 	RealPage’s 	RMS 	has 	a 	controlling 	interest; 	any 	affiliate, 	legal
representative, heir or assign of any entity licensing RealPage’s RMS; federal,
state, 	or 	local 	governments; 	states 	and 	their 	subdivisions, 	agencies, 	and
instrumentalities; 	any 	judicial 	officer 	presiding 	over 	this 	Action 	and 	the
members of his/her immediate family and judicial staff; and any juror assigned
to this Action.
f. 	Settlement Class Member. 	A “Settlement Class Member” means any person
or entity who is a member of the Settlement Class.
g. 	Settling Defendants. 	Settling Defendants are: Allied Orion Group, LLC;
Apartment Income REIT Corp., d/b/a AIR Communities; Avenue5 Residential,
LLC; Bell Partners, Inc.; BH Management Services, LLC; Bozzuto Management
Co.; Brookfield Properties Multifamily LLC; Camden Property Trust; CH Real
Estate Services, LLC; CONAM Management Corp.; Cortland Management,
LLC; Crow Holdings, LP, and Trammel Crow Residential Co.; CWS Apartment
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Homes 	LLC; 	ECI 	Group, 	Inc.; 	Equity 	Residential; 	First 	Communities
Management, Inc.; FPI Management, Inc.; Greystar Management Services, LLC;
Highmark Residential, LLC; Kairoi Management, LLC; Knightvest Residential;
Lantower Luxury Living, LLC; Mid-America Apartment Communities, Inc., and
Mid-America Apartments, L.P.; Mission Rock Residential, LLC; 	Pinnacle
Property Management Services, LLC; Prometheus Real Estate Group, Inc.; The
Related Companies, L.P., and Related Management Company, L.P.; Rose
Associates, Inc.; RPM Living, LLC; Sares Regis Group Commercial, Inc.;
Security 	Properties 	Residential, 	LLC; 	Sherman 	Associates, 	Inc.; 	Simpson
Property Group, LLC; Thrive Communities Management, LLC; Willow Bridge
Property Co. (formerly Lincoln Property Co.); Windsor Property Management
Co.; WinnCompanies LLC, WR GP, LLC, and WinnResidential Manager Corp.
3. 	Injunction. 	Pending the Effective Date of the Settlements, Plaintiffs and
Settlement Class Members (and any person or entity purporting to act or bring claims on behalf of
Settlement Class Members) are enjoined from prosecuting, pursuing, maintaining, or enforcing
any Released Claims against any Settling Defendants in any forum. 	This injunction does not
include State sovereign or quasi-sovereign claims for civil penalties, fines and/or injunctive
relief. 	This injunction will remain in force until the Effective Date, or until such time as
Plaintiffs and the Settling Defendants notify the Court that the Settlements have been terminated.
The Court issues this injunction under the All Writs Act, 28 U.S.C. § 1651(a) as necessary to
protect, effectuate, and aid the Settlements, the Final Approval Order, and the Court’s jurisdiction
and judgments. Nothing in this Paragraph releases or enjoins any claim to enforce the terms of
the Settlements.
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IT IS SO ORDERED.
____________________________________________
WAVERLY D. CRENSHAW, JR.
UNITED STATES DISTRICT JUDGE
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