The company said in its lawsuit that Panini’s owners “embarked on a protracted, unlawful, and deceitful campaign of unfair trade practices, strong-arm tactics, and tortious misconduct to hamper Fanatics Collectibles’ nascent business, in the hopes that it could force Fanatics Collectibles to pay an extortionate amount for Panini to terminate its licenses early, even though early termination would inure to the benefit of collectors and licensing partners—and Panini—alike.
The lawsuit mentioned a 2022 negotiating period when Fanatics and Panini agreed in principle to terminate some of Panini’s licenses early. Fanatics agreed to pay the early termination fee based on Panini’s revenue projections. “Panini’s strategy is an admission of its ineptitude: rather than elevating the collector experience, granting licensors access to downstream opportunities, or improving the broader industry, Panini is trying to undermine its competitor through unfair tactics so that it may continue to treat its American subsidiary as an ATM serving its private owners in Italy. But Fanatics Collectibles will not be bullied,” the lawsuit said.
“Fanatics 101 page press release masquerading as a lawsuit is a disparate attempt to avoid dealing with its serious antitrust liability as set out in litigation filed against it last week,” Panini America said through its lawyers to the Action Network.
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