Akanthos Capital Management, LLC v. Atlanticus Holdings Corporation

I join fully in the opinion of the majority. I write separately to explain why the novel antitrust counterclaim that Atlanti-cus filed in this action fails as a matter of law. I served on both the panel that affirmed the dismissal of the complaint that Atlanticus filed in the other lawsuit and the en banc Court that affirmed the dismissal by an equally divided vote. My *1273perspective on this issue has not changed. When noteholders negotiate collectively with the issuer of debt, their collective activity is not per se illegal because it is procompetitive. Coordination among existing creditors “is…