Colorado and several other states have reached a $7 million settlement with one of America’s largest landlords over a lawsuit that accused the company and its peers of using software to illegally coordinate rent prices.

“When corporate landlords share private data and use algorithms to coordinate and jack up rent prices, renters pay the price,” Colorado Attorney General Phil Weiser said in a statement Tuesday announcing the agreement. “This settlement sends a clear message: We will not tolerate practices that enable collusion, harm competition and make housing less affordable for Coloradans.”

The proposed settlement with Greystar was filed Tuesday morning and still needs final approval from the federal judge overseeing the case, which was initially filed last year. Under the deal’s ter

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