VerdictStats

Illinois Attorney General

IL-AG v. Varsity Brands

Settled

Varsity Brands allegedly engaged in a concerted exclusionary scheme to acquire, maintain and enhance its monopoly power in the markets for cheer competitions, cheer camps and cheer apparel. According to IL-AG, Varsity maintained more than 75% of each of these product markets and leveraged its monopoly power to stifle competition, which allowed Varsity to charge Illinois families higher monopolistic prices.

Summary generated from official Illinois Attorney General press release

Source: Illinois Attorney General Press Release ↗

Parties

Defendants / Respondents
  • Varsity Brands LLC
  • Varsity Spirit, LLC
  • Varsity Spirit Fashion & Supplies LLC
  • U.S. All Star Federation Inc.
  • Jeff Webb
  • Charlesbank Capital Partners LLC
  • Charlesbank Equity Fund VII, Limited Partnership
  • Charlesbank Equity Fund VIII, Limited Partnership
  • Charlesbank Equity Fund IX, Limited Partnership
  • Bain Capital Private Equity, LP
  • Bain Capital Fund XII, L.P.
  • Bain Capital Fund (DE) XII, L.P.
  • Bain Capital Fund (Lux) XII, SCSp

Dates

Resolved
August 25, 2024
Published
August 30, 2024

Case Details

Industry
Retail
Penalty Type
Restitution