Live Nation settles lawsuit over claims it misled investors about legal risks [Los Angeles Times (CA)]
Live Nation Entertainment, Inc. (LYV)
Last live nation entertainment, inc. earnings: 10/31 04:01 pm
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Source: Los Angeles Times
Representatives for Live Nation declined to comment on the settlement. The settlement comes after a 2023 class-action lawsuit accused the Beverly Hills concert promotion giant of lying about business practices including charging high fees, service bundling and retaliation against venues that used a non-Ticketmaster ticketing service. Those practices, the suit claimed, exposed the company to legal risks, including a Justice Department investigation following Taylor Swift's Eras Tour on-sale debacle, which later led to a federal antitrust suit calling for the break up of Live Nation, the parent company of Ticketmaster. The class-action suit claims that Live Nation misled investors when it said it “does not engage in behaviors that could justify antitrust litigation, let alone orders that would require it to alter fundamental business practices.” Investors should have been told these practices may “incur regulatory scrutiny and face fines, penalties, and reputational harm,” the suit
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