BOCA RATON, Fla., Jan. 25, 2016 /PRNewswire/ -- iPic®, a pioneering industry leader of award-winning night-out entertainment destinations that include luxury movie theaters and restaurants, today announced that it has secured an injunction from a Texas court that prevents Regal Entertainment (NYSE: RGC) from continuing to engage in anticompetitive "clearances" as part of Regal's efforts to prevent the licensing of first-run movies to iPic's theater in Houston, Texas.
In a lawsuit filed in November 2015 in the 234th District Court in Harris County, Texas (Hon. Wesley Ward, presiding), iPic sought a temporary injunction order to halt unfair and anticompetitive business practices by Regal, the largest theater circuit in the nation. Regal has been using its dominant market position to prevent the licensing of first-run films to iPic® in Houston that would be played in the same market at the same time, an effort calculated to cripple the Houston iPic theater from competing.
In the two months since the new iPic Houston theater has been open, Regal has illegally and repeatedly coerced studios to exclude iPic's theater from being able to show popular first-run films including "The Hateful 8," "Ride Along 2," and "The Revenant." In addition the lawsuit recounts specific other examples around the country where Regal threatened boycotts of specific movie studios, and the first-run films they produce, if smaller boutique theaters were given licensing rights to such releases.
"iPic is extremely pleased that the Court ordered Regal to immediately stop its anticompetitive campaign," Hamid Hashemi, President & CEO of iPic Entertainment said. "We're thrilled to be able to play all pictures at our iPic theater in the River Oaks District. This is good for our guests, for the industry, and for iPic."
The court found the boutique, luxury iPic theater not to be in "substantial competition" with the Regal Greenway Grand Palace Stadium 24, and ordered Regal to refrain from demanding "clearances" by which the studios refuse to license the same movies to the iPic theater that play in the Regal Greenway Palace.
iPic Theaters is credited with pioneering a differentiated movie experience enabling guests to enjoy their movies in ultimate comfort and style with the option of Premium or Premium Plus patented seating pods, courtesy pillows and blankets and individual service-call buttons that summon ninja-like servers to deliver signature dishes and hand-crafted cocktails to your seat in addition to other luxury amenities.
Guests can indulge in iPic's gourmet chef-driven dining concept by acclaimed three-time James Beard award-winning chef Sherry Yard and hand crafted farm-to-glass cocktails by Advanced Mixologist/Sommelier Adam Seger.
Earlier this year it was reported that the Antitrust Division of the United States Department of Justice and at least 10 State Attorneys General are investigating the competitive practices of Regal, AMC, and Cinemark, among others, regarding these types of exclusionary boycott demands and potential violations of federal antitrust laws.
About iPic® Established through its predecessor in 2006 and headquartered in Boca Raton, FL, iPic-Gold Class Entertainment, LLC, (iPic®) is regarded as the nation's fastest-growing affordable luxury movie theater brand. A pioneering industry leader, iPic®'s mission is to provide visionary, entertainment escapes, presenting high quality, chef-driven culinary and mixology in unique destinations that include premium movie theaters and award-winning restaurants. iPic® Theaters currently operates 13 locations with 97 screens in Arizona, California, Florida, Illinois, Maryland, Texas, Washington, and Wisconsin – with new locations planned for South Florida, Texas, New Jersey, Connecticut, and New York. Please visit us at www.ipic.com.
SOURCE iPic Entertainment