SAN DIEGO, Jan. 17, 2020 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential claims on behalf of Live Nation Entertainment, Inc. ("Live Nation or the "Company") (NYSE: LYV) against certain of its officers and directors.
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. Those 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. Under that accord, the DOJ allowed the companies to combine, but required them to abide by terms meant to preserve competition in the music and ticketing industries. Following this news, Live Nation's share price fell 7.3% to close at 64.34 on December 13, 2019.
Then on January 9, 2020, the Wall Street Journal reported that Justice Department antitrust enforcers submitted a court filing on January 8, 2020, stating the filing, "chronicles instances in which six unnamed venues said they were told that retaining the services of a Ticketmaster competitor would lead the concert-promotion giant to stop booking acts at those venues. Some of the venues said Live Nation retaliated against them for opting to use a competing ticketing service."
If you are a long-term shareholder of Live Nation, you may have standing to hold the Company harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are interested in learning more about the investigation, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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