The National Football League has sued a group of insurance companies for more than $1 billion in unpaid claims stemming from a long-running antitrust lawsuit, according to CNBC.
In this specific case, the NFL claims that insurance companies responsible for “excess” coverage have refused to pay money that would cover attorneys’ fees and other expenses in defending against the still-pending antitrust case. The NFL alleges that the excess coverage providers initially seemed to acknowledge the responsibility to provide coverage before changing their tune in 2021.
Read more: Judge Rules NFL Must Face Class Action Over ‘Sunday Ticket’ Prices
The case, which is still pending, accuses the league of colluding to suppress player wages. If the players prevail, they could be awarded triple damages, and the total payout amount could reach the billions of dollars.
The NFL has been insured against antitrust judgments since the early 1990s.
The NFL alleges that the insurance companies have unlawfully refused to pay claims related to the antitrust case. The NFL’s lawsuit, filed in federal court, charges that the insurers conducted “a coordinated campaign of bad faith and gamesmanship” by refusing to pay the insurance claims.
Featured News
UK Competition Watchdog to Investigate Carlsberg’s £3.3bn Takeover of Britvic
Sep 11, 2024 by
CPI
News Corp Faced Millions in Losses by Moving Away from Google Ads, Ex-Executive Testifies
Sep 10, 2024 by
CPI
EU Faces Critical Innovation Gap, Draghi Report Urges Antitrust Reforms
Sep 10, 2024 by
CPI
Womble Bond Dickinson and Lewis Roca to Merge, Forming 1,300-Lawyer Firm
Sep 10, 2024 by
CPI
Federal Judge Dismisses Antitrust Lawsuit Against Fidelity and Schwab
Sep 10, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
CPI
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
CPI
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
CPI
The Cost of Making COFECE Disappear
Sep 3, 2024 by
CPI