LYV - Block & Leviton LLP Provides Update on its Investigation of Live Nation Entertainment Inc.
BOSTON, Dec. 17, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors and whistleblowers nationwide, is investigating Live Nation Entertainment (NYSE: LYV) and certain of its officers and directors for potential violations of federal securities laws.
On December 13, 2019, the Wall Street Journal reported that the U.S. Department of Justice (“DOJ”) was preparing to take legal action against Live Nation based on allegations that the company sought to “strong-arm” concert venues into using its market-dominant Ticketmaster subsidiary. Such efforts would violate the terms of a settlement agreement that Live Nation and Ticketmaster reached with the government in 2010 as a condition of their merger. As a result of this news, Live Nation’s share price fell $5.09 or 7.3% to close at $64.34 on December 13, 2019.
The Justice Department now plans to ask a judge to extend the restrictions of the settlement, which expires in 2020, by several years and enjoin anticompetitive and coercive conduct by Live Nation. Fan Freedom, a consumer advocacy group, praised the government’s actions, saying that Live Nation has “exercised almost complete control over the primary ticket-sales market and has developed restrictive policies and technologies that stifle competition in the secondary market.”
If you have purchased or otherwise acquired Live Nation securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Mark Delaney at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting https://shareholder.law/lyv.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
Mark Delaney
(617) 398-5600 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
mark@blockesq.com