Fanatics Countersues Panini America in Latest Trading Card Industry Drama

  • 📰 nypost
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 67%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Fanatics countersues Panini America after antitrust lawsuit in latest drama within trading card industry

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 91. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MrBeast's Burger Company Countersues YouTube Megastar for Over $100 MillionThe ghost kitchen company that operates MrBeast Burger has filed a countersuit against Jimmy Donaldson, also known as YouTube megastar MrBeast. Donaldson had previously sued the company, seeking to end their partnership and claiming issues with the quality of the food. The countersuit alleges that Donaldson's claims have caused significant harm to the MrBeast brand and seeks over $100 million in damages.
Source: engadget - 🏆 276. / 63 Read more »