Varsity Brands LLC has reached an agreement in principle to resolve antitrust litigation over its alleged scheme to dominate the sport of competitive cheerleading.
The Bain Capital LP affiliate—which sells sports apparel and sponsors top cheerleading competitions—filed a joint settlement notice Tuesday with the gyms leading the proposed class action on behalf of direct purchasers. The filing in the US District Court for the Western District of Tennessee didn’t contain any details.
“The parties are drafting a formal settlement agreement and anticipate that plaintiffs will present a motion for preliminary approval” in “the near future,” it said.
The deal comes ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.