According to the Complaint, Live Nation is live entertainment company and concert and ticketing platform operating in 48 countries.  Live Nations owns, operates, and has exclusive booking rights for a number of global venues and claims to be one of the world’s leading artist managements companies.  Through Ticketmaster, Live Nation provides ticket sales and resale services for concerts, sporting events, performing arts experiences, festivals, museums, and theaters.

Plaintiff alleges that Defendants made materially false and misleading statements throughout the Class Period.  Specifically, Defendants failed to disclose that: (1) Live Nation engaged in anticompetitive conduct, including charging high fees and extended contracts with talent, and retaliated against venues; and (2) as a result, Live Nation was reasonably likely to incur regulatory scrutiny and face fines, penalties, and reputational harm.

On July 28, 2023, Politico reported that the DOJ “could file an antitrust lawsuit against [Live Nation and Ticketmaster] by the end of the year, according to three people with knowledge of the matter.”  Politico further reported that the DOJ complaint is expected to allege that “the entertainment giant is abusing its power over the live music industry.”

On this news, Live Nation’s stock price fell $7.60, or 7.8%, to close at $89.33 per share on July 28, 2023.

If you wish to serve as lead plaintiff, you must move the Court no later than October 3, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

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