Update: Live Nation Hit With Class Action Lawsuit in Wake of US Antitrust Case-March 2024-www.financetom.com

Update: Live Nation Hit With Class Action Lawsuit in Wake of US Antitrust Case

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Update: Live Nation Hit With Class Action Lawsuit in Wake of US Antitrust Case

May 24, 2024 11:25 AM

02:09 PM EDT, 05/24/2024 (MT Newswires) -- (Updates with additional details in the third paragraph.)

Live Nation Entertainment ( LYV ) was hit with a class action lawsuit late Thursday in Manhattan federal court following the announcement earlier in the day that the federal government and multiple states were suing to break up the company over antitrust concerns.

The lawsuit is seeking all forms of relief for the class, including actual damages, treble damages, cost and reasonable attorneys' fees, and injunctive relief.

The suit alleges that the company "monopolized the relevant market with the intention of injuring or destroying competition" and that the "members of the class were injured with respect to purchases of tickets to a Live Nation event or concert in the relevant market from secondary ticketing services platforms other than Ticketmaster."

Live Nation Entertainment ( LYV ) did not immediately respond to MT Newswires' request for comment.

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