Ticketmaster has been hit with a class action lawsuit following reports of a massive data breach that potentially exposed 560 million customers' personal information. The breach was allegedly carried out by a hacker group known as ShinyHunters.

The hackers reportedly obtained 1.3 terabytes of sensitive customer data, including:

• Names
• Addresses
• Purchase information
• Partial credit card details

The stolen data is purportedly being offered for sale at $500,000.

Two Ticketmaster users filed a 40-page complaint in California federal court, alleging:

• Negligence
• Breach of fiduciary duty
• Failure to implement basic security procedures

The lawsuit seeks to establish two classes:

• A nationwide class for all affected U.S. residents
• A California subclass addressing specific state law violations

The plaintiffs argue that affected customers:

• Face increased risk of identity theft
• Will incur significant costs for protection measures
• Experience emotional distress and anxiety
• Could be vulnerable to cybercrimes for years

For Live Nation, Ticketmaster's parent company, this incident adds to ongoing challenges:

• An active Justice Department investigation seeking to split up the companies
• A separate $5 billion consumer class action
• Recent resolution of Astroworld tragedy lawsuits

Despite these setbacks, Live Nation's stock (NYSE: LYV) remains relatively stable, trading at $93.45, representing a 17% increase since May 2023.

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