Fanatics and Panini Engage in Intense Legal Battle Over Trading Card Industry

Fanatics has filed a countersuit against Panini America after Panini accused the sports retail and collectibles giant of having a monopoly in the trading card industry. Panini alleged that Fanatics engaged in "anticompetitive" behavior and signed long-term licensing deals with major sports leagues. Fanatics fired back, accusing Panini of unfair trade practices and tortious misconduct. The lawsuit also mentioned a 2022 negotiating period when Fanatics and Panini agreed in principle to terminate some licenses early, but Panini allegedly dragged out the negotiations in bad faith. Fanatics is seeking damages and other relief for Panini's unfair competition, tortious interference, and breach of the duty to negotiate in good faith.