In the most recent unfolding of events between Commercial Real Estate Exchange Inc. (CREXi) and CoStar, the latter has impressed on the Ninth Circuit the need to dismiss antitrust counterclaims from CREXi. Notably, the Federal Trade Commission (FTC) has given its backing to these counterclaims. However, CoStar’s objection is centered on the argument that CREXi aims to leverage antitrust laws in order to enjoy complimentary access to its platforms.
Typically, antitrust laws are constituted to prevent companies from conducting behaviors such as cartel-like practices, monopolization, and other activities that can significantly obstruct competition in the open market. To this end, they are intended to regulate the conduct of businesses and ensure that healthy competition prevails in the marketplace. Evidently, this would seem to be the crux of the matter in the ongoing dispute between CoStar, a major player in the commercial real estate information market, and CREXi, its competitor.
It would appear that this case is progressing towards becoming a highly significant legal battle which focuses on the issue of antitrust laws and how they are leveraged by companies. Professionals in distinct areas of legal practice, ranging from antitrust law to commercial real estate law, would be well-advised to pay close attention to further developments as they unfold.
For comprehensive details on the unfolding legal battle between CREXi and CoStar, you can delve into this informative coverage on Law360 here.