The Firm obtained a victory on behalf of its client, Bankrate, Inc. (“Bankrate”) in an appeal before the United States Court of Appeals for the Third Circuit. The Court affirmed the district court’s decision granting summary judgment, after twelve years of litigation, in favor of Bankrate on claims filed by a competitor alleging that Bankrate monopolized a segment of the market for advertising loan products at the retail level.
The Third Circuit held that the plaintiff failed to define the relevant market and show that prices charged by Bankrate were artificially low prior to the alleged monopolization or supracompetitive afterwards. The Court further held that the plaintiff failed to show that Bankrate controlled a “dominant share of the market” and that the market was protected by “high barriers to entry.”
A copy of the Third Circuit’s February 25, 2021 Opinion BanxCorp v. Bankrate, Inc., No.19-1833, 2021 U.S. App. Lexis 5604 (Feb. 25, 2021) is attached.