On Friday, March 1, 2024, a class action lawsuit, KMM Ya Mon Expeditions, LLC v. International Yacht Brokers Association, et al., was filed in the United States District Court for the Southern District of Florida. The lawsuit alleges the existence of anticompetitive agreements that have caused boat and yacht sellers to pay inflated commissions to brokers or agents in violation of antitrust law.
Plaintiff's counsel includes G&K shareholders Kevin Neal, William King, and Ken Ralston, Ricardo Martinez-Cid and Lea Bucciero of Podhurst Orseck in Florida, and Hunter Shkolnik and Salvatore C. Badala of Napoli Shkolnik in New York.
The suit seeks money damages from the Defendants, but the Plaintiffs are looking to get answers, looking for accountability, and most importantly, looking to make sure this anticompetitive conduct comes to an end.
Kevin Neal, Plaintiff's Counsel
Read the recent coverage:
US yacht brokers hit with lawsuit over commission fees | Marine Industry News (UK)
Lawsuit Rocks the Yacht-Sales World | Loose Cannon
Yacht sales agents hit with US class action over commission fees | Reuters
Yacht Brokers Associations Hit With Price-Fixing Conspiracy Suit | Bloomberg Law