A New York federal judge dismissed a class action lawsuit against Fanatics, the NFL, NBA, MLB, their respective players associations, and OneTeam, which serves as the commercial vehicle for the players associations, on all counts on March 25, 2025 [1]. The lawsuit, filed by five plaintiffs—Robert Scaturo, Scott Bubnick, Joseph Davidov, Steven Mardakhaev, and Jonathan Madar—accused the defendants of conspiring to monopolize the trading card market for each of the sports leagues, allegedly increasing card prices for millions of consumers worldwide. The suit referenced portions of an ongoing antitrust lawsuit by Panini, a competitor of Fanatics in trading cards and memorabilia [1].
Chief U.S. District Judge Laura Taylor Swain ruled that "none of the named plaintiffs adequately allege that they have overpaid or will imminently overpay for trading cards sold by defendants," and further noted that it was impossible for any consumer to purchase such trading cards from the defendants prior to the filing of the complaint, as Panini still held the licenses for NFL and NBA trading cards at the time [1]. Topps, acquired by Fanatics in 2022 for about $500 million, had not produced NBA-licensed trading cards until October 2025, and the NFL license will not transfer to Topps until April 2026 [1].
The court also found the plaintiffs' price-gouging argument regarding MLB cards insufficient, stating they failed to explain whether price differences were due to production costs, quality differences, or anticompetitive conduct. The plaintiffs provided a chart comparing prices of Topps’ licensed cards and Panini’s unlicensed products, but this was not enough to support their claims [1].
A Fanatics spokesperson commented, "We said from the start that this was a baseless and fundamentally flawed lawsuit since Fanatics was being accused of raising prices on cards we didn’t even produce. The court agreed and ruled that the plaintiffs did not even have standing to sue. We are happy the court has now ruled the complaint legally deficient and dismissed it" [1]. The plaintiffs' attorney, John Radice, stated his clients are "assessing the court’s dismissal without prejudice and considering all options" [1]. Meanwhile, Panini continues its own lawsuit against Fanatics, alleging anticompetitive behavior and monopolization of the sports card industry following Fanatics' acquisition of exclusive licensing rights from the NBA and NFL [1].
CONCLUSION
The dismissal of the class action lawsuit against Fanatics and major sports leagues removes a legal hurdle for Fanatics in the trading card industry. However, ongoing litigation from Panini over similar antitrust concerns means the competitive landscape remains uncertain. The court's ruling highlights the importance of concrete evidence in antitrust cases and signals a cautious approach to claims of market monopolization.