Following the acquisition of NFL and NBA licenses, Panini filed suit in 2023, only to be countersued by Fanatics, setting up a lengthy legal battle.

A Southern District of New York judge on Monday ruled that not only will Fanatics' and Panini's lawsuits against each other over pro leagues' exclusive licenses continue, but they'll remain separate cases,

Panini claimed it was an antitrust violation for Fanatics to purchase Topps. The judge dismissed that claim by saying, “Fanatics’ acquisition of Topps could not plausibly cause antitrust harm to Panini, and so Panini lacked standing to bring this claim.”