a countersuit against Panini America in the Southern District of New York on Monday after the latter accused the sports retail and collectibles giant of having a monopoly in the trading card industry.
Fanatics accused Panini of trying to falsify earnings projections hoping to "bait" the company into "continuing sham talks of terminating Panini’s licenses, impeding Fanatics Collectibles’ business plans to work with players’ associations and individual athletes to grow the sports and entertainment collectible cards category."
Fanatics accused Panini of using unfair tactics, which forced them to spend millions of dollars and lose out on several other opportunities. "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.
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