Relevent is Very Relevant for Real Estate
In which I look at a case of supreme importance for real estate in light of Sitzer
I have long said that Notorious has the best informed, best educated readers in the real estate industry. Today is a classic example of why I say that.
A reader, who asked not to be identified (an exceedingly common thing in our industry) asked if I would take a look at a case that may be headed to the Supreme Court of the United States (“SCOTUS” from here out) and think about whether it applies to our industry in light of the monster $5.35 billion verdict in Sitzer, the immediate pile-on copycat lawsuits of Gibson and Batton II (and more).
I read the case on a flight and had my jaw in my lap. Because as I have always said, I’m not an antitrust specialist, nor am I a practicing lawyer. If I were, perhaps I would have known about this all along.
Well now I do. I think this may be a case that the real estate industry should keep an eye on. I speak of Relevent Sports v. U.S. Soccer Federation 61 F.4th 299 (2d Cir. 2023). The link goes to the Scotusblog, a website that tracks activity in the Supreme Court. The case is pending certiorari, which means that the Supreme Court has not yet agreed to hear it. I hope they do for reasons that will become clear below.
There’s a lot here, and I don’t know that I’ll get to all of the relevant points in one post. But I’ll try to hit the highlights. As always, I am a retired member of the NY Bar, but not a litigator, not an antitrust specialist, and definitely not your lawyer. I’m a blogger on the interwebz doing this for edutainment. Please consult your own attorney for actual legal advice and legal analysis.
Let’s get into it.
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