NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Live Nation Entertainment, Inc. (“Live Nation” or the “Company”) (NYSE:LYV) of the June 18, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Live Nation stock or options between February 23, 2017 and March 30, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/LYV. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased or otherwise acquired Live Nation common stock between February 23, 2017 and March 30, 2018, inclusive (the “Class Period”). The case, Kathryn A. Poser v. Live Nation Entertainment, Inc. et al., No. 2:18-cv-03242 was filed on April 17, 2018 and has been assigned to Judge Stephen Victor Wilson.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose: (1) that the Company failed to abide by the terms of an antitrust consent decree reached with the Department of Justice (the “Consent Decree”); (2) that the Company lacked adequate internal controls to prevent a violation of the Consent Decree; and (3) that, as a result of the foregoing, the Company’s financial statements and its statements about Live Nation’s business, operations, and prospects, were materially false and misleading.
Specifically, on April 1, 2018, after market close, The New York Times published an article alleging that the Company failed to abide by the terms of a consent decree aimed to prevent Live Nation and Ticketmaster from monopolizing the market for live musical performances.
On this news, Live Nation’s share price fell from $42.17 per share on March 29, 2018 to a closing price of $38.17 on April 2, 2018—a $3.97 or a 9.421% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Live Nation’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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