Cuomo and Airbnb in Legal Fight

New York Governor Andrew Cuomo signed into law the nation's first bill that would prohibit advertising of illegal units on home sharing sites in the state. Airbnb quickly filed a lawsuit in retaliation to block the law, which they deemed unconstitutional. "In typical fashion, Albany back-room dealing rewarded a special interest — the price-gouging hotel industry — and ignored the voices of tens of thousands of New Yorkers," said Airbnb spokesman Peter Schottenfels. The new law imposes fines of up to $7,500 per violation for advertising units that do not comport with a 2010 law making home sharing in multifamily units for less than 30 days in New York City illegal.