Civil Plaintiff

Varsity Cheerleading Reaches $82.5 Million Antitrust Settlement

Bain Capital, its cheerleading company Varsity Brands and Varsity’s previous owners have agreed to pay $82.5 million to settle a class action lawsuit brought on behalf of cheerleading consumers, or “indirect purchasers,” who accused the defendants of intentionally monopolizing or conspiring to monopolize the cheer competition, camps and apparel markets. Plaintiffs’ attorneys will receive a third of the settlement amount—$27.5 million—plus $9.2 million in litigation costs, according to court filings this week. 

On Monday, the parties presented the federal judge overseeing the case a copy of the proposed settlement, which comes almost exactly a year after Varsity agreed to pay $43.5 million to settle another antitrust suit, Fusion Elite All Stars, et al. v. Varsity Brands, LLC et al., filed by a proposed class of rival all-star cheerleading gyms. That settlement was ratified by the court in October.

Read more at Sportico

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