BanxCorp, which collects and publishes interest rate data, has filed a federal antitrust suit claiming bigger rival Bankrate operates an unlawful monopoly. BanxCorp is seeking treble damages under the Sherman Antitrust Act based on claims that Bankrate relied on predatory pricing, and exclusionary bundling strategies and acquisitions. BanxCorp's founder and CEO, Norbert Mehl, alleges that the two companies had previously discussed a merger, but that Bankrate "decided to wipe us off the map."
August 08, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
BanxCorp, which collects and publishes interest rate data, has filed a federal antitrust suit claiming bigger rival Bankrate operates an unlawful monopoly.
White Plains, N.Y.-based BanxCorp accused North Palm Beach, Fla.-based Bankrate of predatory pricing, vendor lock-in, and exclusionary product and distribution bundling, and tie-in arrangements.
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