NEW YORK--(BUSINESS WIRE)--The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Live Nation Entertainment, Inc. (NYSE: LYV) who purchased shares between February 23, 2017 and March 30, 2018. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (1) the Company failed to abide by the terms of the Consent Decree; (2) the Company lacked adequate internal controls to prevent a violation of the Consent Decree; (3) as a result of the foregoing, the Company's financial statements and statements about Live Nation's business, operations, and prospects, were materially false and misleading at all relevant times. On April 1, 2018, The New York Times reported that the U.S. Department of Justice is investigating whether certain of Live Nation’s business practices are in violation of a consent decree negotiated in connection with the approval of Live Nation’s 2010 merger with Ticketmaster. The article reported that officials at the Department of Justice “have been reviewing complaints that Live Nation…has used its control over concert tours to pressure venues into contracting with its subsidiary, Ticketmaster.”
Shareholders have until June 18, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-c/live-nation-entertainment-inc?wire=2.
Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.