A federal court in
Maryland yesterday ruled in favor of Live Nation Entertainment, Inc. LYV and summarily dismissed all claims in a lawsuit filed in 2009 by It's My
Party, Inc., and It's My Amphitheatre, Inc., whose principal is concert
promoter Seth Hurwitz. The lawsuit alleged violations of federal and state
antitrust laws.
In issuing summary judgment, the court invalidated key elements of the
plaintiffs' expert testimony, effectively rejecting allegations that Live
Nation coerced any artists, violated any antitrust laws, or engaged in any
anti-competitive conduct whatsoever. The full text of the order can be found
at https://www.wsgr.com/PDFs/livenation-0215.pdf.
Live Nation issued the following statement regarding the ruling:
"We are very pleased with the judge's ruling, which we believe validates Live
Nation's business approach and practices, and which aligns with our
long-standing belief that the accusations made in this case were completely
false. We feel vindicated that the court was able to see through the baseless
allegations by a rival promoter and recognize that the claims of
anti-competitive conduct had no merit. Our focus is, and will continue to be,
providing a world-class live music experience for artists and their millions
of fans."
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: NewsPress Releases
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in