(Reuters) – Sports trading-card firm Panini America on Thursday sued rival platform Fanatics in U.S. court docket, accusing the upstart of attempting to unlawfully dominate the market via anticompetitive enterprise practices together with unique long-term offers with skilled sports activities leagues.

Panini, represented by legislation agency Boies Schiller Flexner, alleged in its lawsuit in Tampa, Florida, federal court docket that Fanatics entered the trading-card market in 2021 with no “knowledge and expertise” and took steps to field out rivals.

Fanatics, in response to Panini’s lawsuit, signed long-term licensing offers with the National Football League, Major League Baseball, National Basketball Association and every of their respective gamers associations.

Panini has an unique license with the NBA via September 2025 and, amongst others, an unique license with the NFL via early 2026.

The lawsuit additionally accused Fanatics of “raiding” Panini staff and unlawfully disparaging the corporate.

“Because of Fanatics’ anticompetitive conduct, the major U.S. professional sports leagues trading cards market will be entirely controlled by a single firm for decades,” Panini’s lawsuit alleged.

Fanatics has seen its valuation soar up to now 12 months. Fanatics was valued at greater than $31 billion final 12 months, after elevating $700 million in a brand new financing spherical led by non-public fairness agency Clearlake Capital, Reuters reported in December.

Fanatics, with model headquarters in Tampa, in a press release known as Panini’s lawsuit a “baseless last-gasp, flailing effort by a company that has lost touch with its consumers, is failing in the marketplace and has tried unsuccessfully for years to sell itself.”

Fanatics, represented by attorneys from Latham & Watkins, stated “Panini’s meritless allegations won’t distract us or slow us down, and we will vigorously defend the lawsuit.”

Panini stated it was looking for unspecified damages for reputational hurt, misplaced income and different alleged accidents.

The case was assigned on Thursday to U.S. District Judge Kathryn Kimball Mizelle, a former affiliate on the legislation agency Jones Day who was confirmed to the bench in 2020.

The case is Panini America Inc v. Fanatics Inc, U.S. District Court, Middle District of Florida, No. 8:23-cv-01721.

For plaintiff: David Boies, Stuart Singer and James Denvir of Boies Schiller Flexner

For defendant: Lawrence Buterman, Amanda Reeves and Chris Yates of Latham & Watkins

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