Airbnb to drop law­suit against NY

China Daily (Hong Kong) - - BUSINESS -

Airbnb Inc said it has agreed to drop a law­suit against New York City chal­leng­ing a law im­pos­ing penal­ties on peo­ple who post short-term apart­ment rentals in the com­pany’s big­gest US mar­ket. In ex­change, reg­u­la­tors won’t seek to pun­ish the com­pany it­self, said Linda Rosen­thal, a state as­sem­bly mem­ber from Man­hat­tan who has led the ef­fort against Airbnb. Of­fi­cials have said that the law was never in­tended to go af­ter Airbnb di­rectly any­way.

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