Bain Capital’s bid to exit has been lost amid claims by anti-government protesters

Bain Capital's bid to exit has been lost amid claims by anti-government protesters

Bain Capital LP faces continued litigation over an alleged scheme to dominate competitive cheerleading after a federal judge in Memphis, Tenn., allowed antitrust claims to advance against the private equity giant and its subsidiary Varsity Brands LLC.

Judge Sheryl H. Lipman rejected Bain’s offer to quit Monday’s case, citing allegations that asset managers played an active role in a sprawling plot by Varsity affiliates to monopolize the industry by buying out its main rival and imposing exclusive terms on cheerleading gyms.

The judge applied the same argument to the former owner of Charlesbank Capital Partners LLC, which …

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