Guitar Center Sued in Florida

In a filing to the Securities and Exchange Commission, Guitar Center Inc. announced it has been named in a lawsuit that claims the retailer tried to keep a competitor from finding vendors. The company said in its filing the lawsuit filed by was baseless but could still cause significant expenses and damages, regardless of the lawsuit’s outcome. Guitar Center and its CEO, Marty Albertson, were named in complaint which alleges the company violated federal racketeering, antitrust, unfair trade practices and other laws.