Case Page

 

Case Status:    DISMISSED    
On or around 08/21/2018 (Notice of voluntarily dismissal)

Filing Date: April 18, 2018

Live Nation Entertainment, Inc. ("Live Nation") produces live concerts and sells tickets to those events over the internet. The Company owns and operates over 195 venues throughout the world, and the Company significantly expanded its ticketing services with the purchase of Ticketmaster Entertainment (“Ticketmaster”) in 2010.

According to the law firm press release, on April 2, 2018, The New York Times reported that U.S. Department of Justice officials were looking into “serious accusations” against Live Nation regarding possible antitrust violations. On this news, Live Nation’s share price fell $3.97, or 9.4% on April 2, 2018, thereby injuring investors.

The Complaint filed in this class action alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company failed to abide by the terms of a Department of Justice 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 Defendants’ statements about Live Nation’s business, operations, and prospects, were materially false and misleading at all relevant times.

On June 27, 2018, the Court issued an Order appointing Co-Lead Plaintiffs and Co-Lead Counsel.

This case was voluntarily dismissed on August 21, 2018.

COMPANY INFORMATION:

Sector: Services
Industry: Recreational Activities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: LYV
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: C.D. California
DOCKET #: 18-CV-03242
JUDGE: Hon. Stephen V. Wilson
DATE FILED: 04/18/2018
CLASS PERIOD START: 02/23/2017
CLASS PERIOD END: 03/30/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
  2. Holzer & Holzer, LLC
    1117 Perimeter Center West, Suite E-107, Holzer & Holzer, LLC, GA 30338
    770.392.0090 770.392-0029 · mfistel@holzerlaw.com
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available