Boats Group has been sued by a Miami boat brokerage over accusations of holding an illegal monopoly in the US marine vessel market. The lawsuit claims that Boats Group, which owns platforms like Boat Trader, YachtWorld, and boats.com, has employed strong-arm tactics to stifle competition and increase prices for brokers and dealers. It alleges the company maintains its monopoly not through quality services but via exclusionary practices that hamper competition and innovation. The lawsuit aims to restore competitive conditions and seek damages for those allegedly harmed by these tactics.
The proposed class action antitrust lawsuit alleges that Boats Group has engaged in strong-arm tactics to choke competition and jack up prices on brokers and dealers.
Boats Group has willfully maintained and expanded its monopoly power through exclusionary practices rather than competition on the merits, according to the lawsuit.
This conduct has enabled Boats Group to preserve its monopoly power not through superior products or services, but through exclusionary tactics that suppress competition.
The lawsuit seeks to restore competitive conditions in the boat market and recover damages for US individuals or businesses allegedly harmed by Boats Group's anticompetitive conduct.
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