San Diego, CA -- (SBWIRE) -- 08/22/2023 -- The Shareholders Foundation announced that an investor, who purchased shares of Live Nation Entertainment, Inc. (NYSE: LYV), filed a lawsuit over alleged violations of Federal Securities Laws by Live Nation Entertainment, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Live Nation Entertainment, Inc. (NYSE: LYV) have certain options and for certain investors are short and strict deadlines running. Deadline: October 03, 2023. LNYSE: LYV investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On November 18, 2022, The New York Times reported that the DOJ had opened an antitrust investigation into Ticketmaster and Live Nation Entertainment, Inc. after the ticketing platform's systems crashed during a highly-anticipated presale for Taylor Swift tickets. The ensuing chaos of disappointed "Swifties" highlighted Live Nation's power over the live music industry, exacerbating complaints that the Company has "constrained competition and harmed consumers."

Then, on February 23, 2023 at 3:30 p.m. Eastern time, NPR reported that, following Congressional hearings, the Senate Judiciary Subcommittee on Competition Policy, Antitrust, and Consumer Rights wrote to the DOJ, presenting evidence that "Live Nation is harming America's music industry." The letter cited issues with Live Nation Entertainment, Inc's pricing models and fees, increasingly long contracts with competitors, and retaliatory behavior against artists and venues that don't want to work with it. The senators "encourage[d]" the DOJ to take action if it found Live Nation had "walled itself off from competitive pressure at the expense of the industry and fans."

Then, on July 28, 2023 at 3:13 p.m. Eastern time, Politico reported that the DOJ "could file an antitrust lawsuit against [Live Nation and Ticketmaster] by the end of the year, according to three people with knowledge of the matter." Politico further reported that the DOJ complaint is expected to allege that "the entertainment giant is abusing its power over the live music industry."

The plaintiff claims that between February 23, 2022 and July 28, 2023, the Defendants failed to disclose to investors that Live Nation engaged in anticompetitive conduct, including charging high fees and extended contracts with talent, and retaliated against venues, that, as a result, Live Nation was reasonably likely to incur regulatory scrutiny and face fines, penalties, and reputational harm, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Live Nation Entertainment, Inc. (NYSE: LYV) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.