Suit: Al-Qaeda of student housing

So claims USC and Urban Partners, developer of a proposed mixed-use project near campus. They have filed suit in federal district court against Conquest Student Housing, alleging a pattern of racketeering, abusive litigation, fraud and intimidation. The intimidation part, according to the suit, includes the Conquest people saying that they know how to bomb competitive projects. Urban Partners, which plans the University Gateway Project, is a competitor. “Conquest’s attempt to monopolize the USC student housing market through abusive litigation must be stopped," said Matthew Burton, a principal of Urban Partners. The lawsuit names Conquest, its principals Brian Chen and Alan Smolinisky, and other Conquest agents as defendants. I just called Conquest for a response and was forwarded to voice mail. Here's a snippet from the complaint:

The Conquest Defendants have engaged in these illegal, abusive, and unfair business practices with the brazenly open intent of monopolizing and dominating the student housing market within walking distance of the USC campus. The Conquest Defendants literally have characterized the acquisition of property for USC student housing as akin to playing a game of “Monopoly.” The Conquest Defendants currently own and operate at least 19 apartment complexes within walking distance of USC, which house more than 1,400 USC students. In early 2007, the Conquest Defendants told USC officials, at a meeting at Conquest’s offices, that the Conquest Defendants’ mastery over the pricing of the USC student housing market is so complete that they know “by the hour” how they can manipulate rental rates. The Conquest Defendants maintain in their offices parcel-by-parcel, floor-to-ceiling maps of the USC area that they constantly update to track their monopolistic control over this market.

Conquest's Web site suggests none of the above. "Conquest's goal is to be the low cost provider of high volume quality housing for the USC student community," it says. There's also a section about how it looks out for the environment by promoting energy conservation and installing low-flow toilets.