Fanatics, the prominent sports retail and collectibles company, has retaliated against Panini America’s lawsuit by filing a countersuit in the Southern District of New York. The original lawsuit, filed by Panini in Florida, accused Fanatics of monopolizing the trading card industry. Panini alleged that Fanatics engaged in anti-competitive behavior and secured long-term licensing deals with major sports leagues and players’ unions, including the NFL, MLB, and NBA. Fanatics, which recently acquired the Topps Company, responded by accusing Panini of engaging in unlawful and deceitful practices to hinder Fanatics Collectibles’ business. They claimed that Panini attempted to terminate its licenses early, demanding an exorbitant payment from Fanatics. Fanatics further accused Panini of using unfair tactics, causing them significant financial losses and missed opportunities.
In the ongoing legal battle, Fanatics also highlighted Panini’s legal actions against employees who left the company without non-compete agreements. They alleged that Panini threatened individuals who planned to join Fanatics. Additionally, the countersuit referenced a negotiation period in 2022, where Fanatics and Panini agreed to terminate some licenses early. According to Fanatics, Panini acted in bad faith by prolonging the negotiations and providing inflated earnings projections to demand an unreasonably high termination fee.
Moreover, Fanatics accused Panini of employing unfair tactics to suppress competition and maintain its dominance, resulting in substantial financial harm and missed opportunities for Fanatics. A source familiar with the matter claimed that Panini had been threatening Fanatics with an antitrust lawsuit for months, hoping to force an unfavorable agreement. However, Fanatics remained firm and refused to agree to the deal. The countersuit asserted that Panini’s strategy revealed its incompetence and desire to prioritize its private owners in Italy over enhancing the collector experience and benefiting the industry.
Fanatics also cited tweets from disgruntled Panini customers to support their claims. However, Panini America has yet to respond to these allegations. In a statement released through their lawyers, Panini dismissed Fanatics’ countersuit as an attempt to evade the serious antitrust liability that they face. Panini defended its record of innovation, customer service, and financial success, asserting that Fanatics’ attacks were inconsistent with the facts. They argued that if Panini truly experienced the failures claimed by Fanatics, Fanatics would not have resorted to exclusive deals and other improper practices to stifle their competition. The legal battle between the two companies is ongoing, with Fanatics seeking damages and appropriate relief for Panini’s alleged unfair competition, tortious interference, and breach of the duty to negotiate in good faith.
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