Illinois Attorney General Kwame Raoul announced Wednesday that the state has joined an $82.5 million proposed antitrust settlement with Varsity Brands.
As a result, Illinois consumers who paid to participate in Varsity Brands’ cheer competitions or camps, or purchased Varsity apparel from December 10, 2016 through March 31, 2024 will be eligible to receive recovery funds. Consumers must file claims to receive reimbursement, and Attorney General Raoul is encouraging people to sign up to receive more information.
Earlier this year, an $82.5 million proposed class action antitrust settlement required Varsity Brands to pay individual consumers who participated in Varsity cheer competitions or camps or bought Varsity apparel. However, under the original proposed settlement’s allocation plan, Illinois purchasers would have received nothing. As a result of intervention by Attorney General Raoul’s office, the court approved a revised plan, which now allows Illinois families to be eligible to recover funds. The court will approve a claim form and set a deadline to submit a claim. Consumers must file a claim to be eligible for recovery funds.
Contact information for claimants should be submitted at www.CheerAntitrustSettlement.com to be notified about the procedures for submitting a claim for compensation when the filing period begins. Illinois purchasers who want to file objections to the proposed settlement or requests to be excluded from the settlement must do so by September 26th.
The settlement resolves a class action lawsuit alleging Varsity had 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. The lawsuit alleged Varsity maintained more than 75% of each of these product markets and leveraged its monopoly power to stifle competition. This allowed Varsity to charge Illinois families higher monopolistic prices.