Claiming 'monopolistic, anti-competitive and illegal behavior in the East End real estate marketplace', Hampton Bays residents George and Jean Simpson got responses last week from some of the 21 brokerage firms and companies they've named in their $9 million lawsuit. Of the heavy hitters in the legal proceedings (including 'Corcoran Group, Prudential Douglas Elliman, Sotheby’s, Brown Harris Stevens, Town and Country Real Estate and Hamptons Real Estate Online') many have sent lawyers to court saying the Simpsons are veritable nut-jobs with nothing more than a conspiracy theory on their hands.
The Simpson's theory, in its ever so simple legal jargon, states: the defendants have 'engaged in anti-competitive practices, collusion, price-fixing, and breaking real estate law via restraint of trade by operating and participating in the Open RealNet Exchange (OREX) system'. We're to believe these evil corporations are scheming to make houses more expensive (and therefore, more difficult to sell) on the East End. Somehow, we don't buy it.
· Simspon Suit Against Heavy-Hitters Continues [27east]