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.
Press/Media Contact:
Michelle Soudry
561-750-3500
msoudry@thegabgroup.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ipic-wins-injunction-from-houston-court-will-prevent-further-anti-competitive-activities-by-regal-300208906.html
SOURCE iPic Entertainment