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BanxCorp Hits Bankrate With Monopoly Allegations

Law360 (August 2, 2007, 12:00 AM EDT) -- A small financial information aggregator has accused that market's giant, Bankrate Inc., of a laundry list of antitrust violations, including predatory pricing, engaging in illegal mergers, and seeking and maintaining a monopoly.

Banxcorp, which owns and operates BanxQuote, filed suit on July 20 in the U.S. District Court for the District of New Jersey. Bankrate, which owns and operates Bankrate.com, an Internet consumer banking marketplace, has denied the allegations in the lawsuit.

Bankrate “has suppressed competition and created insurmountable barriers to entry—-by tying up and locking-in...
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