The Federal Trade Commission is suing Zillow and Redfin for allegedly conspiring to reduce competition in the online multifamily rental listing market. Zillow paid Redfin $100 million to re-host Zillow listings, leading to Redfin essentially mirroring Zillow’s sites. Following the FTC’s announcement, shares of Zillow and Redfin parent Rocket Companies fell sharply in trading. The lawsuit aims to unwind the agreement and restore competition in the rental advertising market.

Read more at CNBC: FTC sues Zillow and Redfin, alleging antitrust violation in online rentals