Yacht brokers push to dismiss amended US antitrust claims over fees | MLex | Specialist news and analysis on legal risk and regulation
MLex Summary: Large yacht brokerages and associations filed a reply in support of their motion to dismiss an amended US complaint accusing them of conspiring to inflate broker commissions for sellers, saying the opposition simply tries to obscure the fact that the complaint is a "watered-down" version of the previous one. "Defendants did not earn dismissal because they convinced the court the associations were not vigilant about rule enforcement, but because the rules did not impose a 'buyer pays the seller's commission' requirement, mandate co-brokerage, or set commission rates at any particular level," they argued.
MLex Summary: Large yacht brokerages and associations filed a reply in support of their motion to dismiss an amended US complaint accusing them of conspiring to inflate broker commissions for sellers, saying the opposition simply tries to obscure the fact that the complaint is a "watered-down" version of the previous one. "Defendants did not earn dismissal because they convinced the court the associations were not vigilant about rule enforcement, but because the rules did not impose a 'buyer pays the seller's commission' requirement, mandate co-brokerage, or set commission rates at any particular level," they argued.
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