No Surprise: Judge Dismisses Billion-Dollar Class-Action Suit Against Yacht Brokers
RULES THAT CURRENTLY PLAINTIFFS LACK EVIDENCE SUFFICIENT FOR PROCEEDING

As we predicted last May, the would-be billion dollar class action suit against a multiplicity of players in the U.S. yacht brokerage sector has, over the intervening eight months, been narrowed down to a dispute essentially about the undermining of competition and the restriction of trade.
Yesterday, Peter Swanson, in his Loose Cannon newsletter, reported that prior trimming and re-focus of the suit have not saved it, and that Federal Judge, Michael Moore, this week ruled the plaintiffs have not brought sufficient facts to the table to enable the case to go forward.
Judge Moore, however, reportedly allowed the plaintiffs an additional three weeks to correct that defect. Whether they can or will undertake to do so is still open to question. But it appears to this observer that Judge Moore leaving the door open for a revision of the case and the presentation of additional evidence, recognizes that a significant proportion of those involved in the brokerage sector of the industry identify a bad smell surrounding the way business is done there, but just can’t quite put their finger on where precisely it’s coming from — whether a) from the way in which the yacht brokerage MLS services exert pressure on brokers to keep their fees high (… so that the brokers can afford to pay MLS services high and rising rates) or b) whether it’s from a general lack of interest in improving the business in ways that would improve protection for yacht buyers from unnecessary and unreasonable exploitation (… if it ain’t broke and is generating huge profits, don’t fix or even try to improve it).
In the course of discussing the law suit, FYBBO has been contacted by several brokerage industry insiders who have expressed interest in talking about the situation in detail — although only if their identities can be kept confidential. We’re currently working on how to assure that and will be bringing that discussion to you soon.
Fair winds and safe harbors.
— Phil Friedman
Copyright © 2025 by Phil Friedman ― All Rights Reserved
Note: Read Peter Swanson’s report on the judge’s dismissal of the the suit this week at —