Live Nation has accepted a regulation of $ 20 million with investors about complaints that the company has not disclosed the risks of commercial practices that have exposed the company to federal antitrust action.
Live Nation representatives refused to comment on the regulation.
The regulations come after a collective appeal in 2023 accused the promotion giant of the Beverly Hills concert of lying on commercial practices, in particular the invoicing of high costs, the grouping of services and the reprisals against places which used a non -ticketmaster ticketing service. These practices, said the prosecution, exposed the company to legal risks, in particular an investigation by the Ministry of Justice after the debacle of the ERA tour of Taylor Swift, which then led to a federal antitrust trial calling for the rupture of Live Nation, the parent company of Ticketmaster.
Collective appeal says that Live Nation has misleaded investors when he declared that he “does not adopt behaviors that could justify antitrust disputes, and even less orders which would force him to modify fundamental business practices”. Investors should have been informed that these practices can “undergo a regulatory examination and face fines, penalties and reputation damage,” said the pursuit.
In 2019, the Ministry of Justice said that Live Nation had violated the conditions for its 2010 merger with Ticketmaster by forcing the premises to use Ticketmaster's Ticketing Platform if they wanted to book Live Nation artists and retaliate against places that have decreased.
The collective appeal included investors who bought live actions from February 23, 2022 to May 22, 2024 and underwent losses. In Friday's file, the two parties qualified the resolution regulations “just, reasonable and adequate”.
