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