RADNOR, Pa.--(BUSINESS WIRE)--Kaskela Law LLC notifies investors that a class action lawsuit has been filed against Live Nation Entertainment, Inc. (NYSE: LYV) (“Live Nation” or the “Company”) on behalf of purchasers of the Company’s securities between February 23, 2017 and March 30, 2018, inclusive (the “Class Period”).
FINAL DEADLINE NOTICE: Investors who purchased Live Nation’s common stock during the Class Period may, no later than June 18, 2018, seek to be appointed as a lead plaintiff representative of the investor class. Investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258–1585 or (888) 715–1740, or via www.kaskelalaw.com/case/live-nation-entertainment-inc/, for additional information about this action and/or to discuss their legal rights and options prior to June 18, 2018.
In 2010, Live Nation acquired Ticketmaster Entertainment (“Ticketmaster”). In connection with that acquisition, Live Nation agreed to an antitrust consent decree with the U.S. Department of Justice (the “Consent Decree”) which was designed to prevent the Company from monopolizing live music promotion and ticketing.
On April 1, 2018, The New York Times published an article alleging that the Company had failed to abide by the terms of the Consent Decree aimed to prevent Live Nation from monopolizing the market for live musical performances. Following this news, shares of the Company’s stock fell $3.97 per share, or 9.4%, to close on April 2, 2018 at $38.17.
The shareholder class action complaint alleges that Live Nation and other defendants made materially false and misleading statements and/or failed to disclose to investors that: (i) that the Company failed to abide by the terms of the Consent Decree; and (ii) the Company lacked adequate internal controls to prevent a violation of the Consent Decree. The complaint further alleges that, as a result of the foregoing, investors purchased Live Nation’s common stock at artificially inflated prices during the Class Period and sustained significant investment losses.
Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.