DOJ's Live Nation Antitrust Case Expands as 10 More States Join Lawsuit Against Ticketing Giant
Ten additional states have joined the Department of Justice's antitrust lawsuit against Live Nation, expanding the total number of state plaintiffs to 40 (including Washington, D.C.). The amended complaint, now 167 pages long, provides more detailed allegations of anticompetitive practices.
Key Updates in the Amended Complaint:
- Expanded details about Live Nation's relationship with Oak View Group
- Further elaboration on how Ticketmaster features allegedly restrict competition
- More extensive documentation of consumer harm through non-negotiable fees
- Additional visual evidence and details about agreements (including 313 Presents)
- New state plaintiffs: Indiana, Iowa, Kansas, Louisiana, Mississippi, Nebraska, New Mexico, South Dakota, Utah, and Vermont
Concert crowd at Live Nation event
Live Nation's Response: "There is nothing new in the Amended Complaint – the lawsuit still won't solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows. We look forward to sharing more facts as the case progresses."
Concert stage with bright lighting
Market Impact: Despite the legal challenges, Live Nation stock (NYSE: LYV) remains strong, trading at $96.53 per share, showing increases of:
- 1.4% daily
- 5.4% over five trading days
- 15% year-over-year growth
The DOJ continues to seek the unwinding of the 2010 Live Nation-Ticketmaster merger, while Live Nation actively contests the venue of the lawsuit and the underlying claims.
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