Airbnb Wants to Settle w/ New York

Airbnb in Talks to Settle New York Lawsuit. 

Airbnb Inc. is in talks with New York City and New York state to settle a lawsuit over a new state law designed to curtail short-term apartment rentals. The potential settlement, according to one person familiar with the discussions, would protect Airbnb against fines from the city for short-term apartment rentals that violate the new law, though it might still leave hosts liable for those penalties.The talks follow Gov. Andrew Cuomo’s signing in October of a law that allows fines of up to $7,500 for people who advertise rentals of fewer than 30 days in multiunit buildings within New York City, where that has been a violation since 2010. That could sink Airbnb’s business in one of its most important markets. Airbnb sued the city and New York state on Oct. 21, soon after Mr. Cuomo signed the law. (Source: Wall Street Journal).