Live Nation Faces $5 Billion Class Action Lawsuit After DOJ Monopoly Investigation
Live Nation and Ticketmaster face a $5 billion consumer class action lawsuit in Manhattan federal court, following the Department of Justice's recent attempt to break up the companies. The lawsuit, filed on behalf of millions of ticket buyers, alleges monopolistic practices in the live events industry.
Concert crowd at outdoor venue
The lawsuit claims Live Nation has forced out competitors and threatened venues that work with rival ticketing services. US District Judge Arun Subramanian, a Biden appointee with antitrust litigation experience, will oversee the case. Israel David and Robbins Geller Rudman & Dowd represent the plaintiffs.
While similar to the DOJ's 2010 case regarding the Live Nation-Ticketmaster merger, the current DOJ lawsuit emphasizes "more expansive forms of anti-competitive conduct." Live Nation disputes these claims, stating there is "more competition than ever" in the live events market.
Legal experts note that Live Nation's defense might highlight the DOJ's initial approval of the Ticketmaster merger. However, the company's alleged failure to follow agreed-upon guidelines could support the government's case. Questions remain about whether a company breakup would be legally permissible as a remedy.
US Department of Justice building exterior
Michael Rapino in black shirt
The case number is 1:24-cv-03973, and the plaintiffs' legal representatives have not yet commented on the lawsuit.