US: Nevada real estate regulators sued for alleged antitrust violations

The lawsuit initiated in the US District Court on December 21, 2018 names as defendants Devin Reiss, current President of the NREC; Lee K. Barrett, Vice President of the NREC; Wayne Capurro, Secretary of the NREC; Neil Schwartz, Commissioner of the NREC; Norma Jean Opatik, former Commissioner of the NREC; Richard Johnson, former President of the NREC; and Jan Holle, NRED Chief Investigator.

In filing the complaint Paul S. Mudrich, Chief Legal Officer of MMREIS, stated, “We believe NRED’S and NREC’S egregious conduct was committed with blatant disregard for both state and federal law, as they have admittedly and unapologetically conspired to illegally stifle interstate commerce and thwart fair competition for the Commissioners’ own personal financial gain, and to ensure an illegal monopoly in favor of themselves and other similarly-situated in-state real estate professionals. As NRED and NREC have unleashed and aggressively sought to enforce their self-benefitting regulations, they have destroyed fair and open markets, turning Nevada into an island by cutting Nevada real estate off from the rest of the national market.”

The complaint details allegations that the defendants conspired to use their positions with the NREC and NRED for personal gain and to the detriment of Nevada property owners and consumers, out-of-state professionals, and the national marketplace.

Full Content: PR News Wire

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