LendingTree Faces $1.5B Price-Fixing Suit

Law360, New York (May 18, 2010, 1:59 PM EDT) -- The operator of a small bank-rate website has accused LendingTree LLC of partnering with Bankrate Inc. to fix prices and allocate control of the online bank-rate market, seeking as much as $1.5 billion in damages after trebling from the financial information aggregator.

Scarsdale, N.Y.-based BanxCorp filed a two-count complaint Friday in the U.S. District Court for the District of New Jersey accusing LendingTree of violating both the federal Sherman Act and New Jersey's antitrust laws.

BanxCorp, which operates the bank rate listing table BanxQuote.com, says it...
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