Amid government scrutiny against Live Nation, A new class action lawsuit claims the company misled investors about regulatory risks.
filed earlier this month accusing the ticketing company of failing to disclose anticompetitive company operations.
New York-based firm Bernstein Liebhard’s lawsuit — filed on August 4 in California Federal Court — alleges that“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,” and that the company also didn’t reveal that the company “was reasonably likely to incur regulatory scrutiny and face fines, penalties, and reputational harm.
Brian Donley, who bought five shares in Live Nation stock on July 25th according to the complaint, is named as the plaintiff in the case. Along with Live Nation Entertainment, both Live Nation’s CEO Michael Rapino and president and CFO Joe Berchtold were named as defendants.New York Times first reported last November that the DOJ was investigating the company, and another 7.8 percent drop to $89.33 per share on July 28th afterAs the lawsuit alleges, because Live Nation didn’t properly disclose the regulatory concerns, “Plaintiff and other Class members have suffered significant losses and damages.”, three other law firms sent out similar notices in light of reports that the the Justice Department’s could sue.
The suit claims that Live Nation not only engaged in anticompetitive behavior, but that its executives knowingly misled investors, providing little evidence on the latter claim beyond the allegation. Regarding anticompetitive behavior itself, Live Nation has consistently denied various claims that it functions as a monopoly.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Boone County woman accused of intentionally setting home on fire in 2020A Boone County woman and her husband are facing charges after a multi-year investigation into a fire that was intentionally set at a home in Indianapolis back in 2020.
Baca lebih lajut »
Police looking for man accused of intentionally hitting, killing scooter rider in Salt Lake CitySalt Lake City Police are asking for the public's help to find a man who they believe intentionally hit a man riding a scooter early Monday morning, resulting in the victim's death.
Baca lebih lajut »
MAMAMOO’s Hwasa Accused Of Public Indecency + P Nation Briefly CommentsMAMAMOO’s Hwasa Accused Of Public Indecency + P Nation Briefly Comments
Baca lebih lajut »
Man accused of committing lewd act while nude outside young child’s window in Live OakA man accused of masturbating multiple times outside a child’s window in Live Oak has been arrested on multiple charges.
Baca lebih lajut »
Wagner's Yevgeny Prigozhin accused of 'armed rebellion' by Russia: Live updatesRussia's FSB security service accused Wagner Group leader Yevgeny Prigozhin of calling for an 'armed rebellion' when he vowed retaliation after claiming Moscow's military killed a 'huge amount' of his mercenaries in a strike on a camp. Follow here for live updates.
Baca lebih lajut »