Ticketmaster Slapped With Lawsuit Alleging Violations Of Antitrust Laws, After Taylor Swift Ticket Sale Fiasco - Live Nation Entertainment (NYSE:LYV)

Several Taylor Swift fans filed a lawsuit against Ticketmaster in California court alleging anticompetitive and fraudulent behavior after the company blocked them from buying tickets to the musician’s concerts.
The fans said Ticketmaster knew the sale would be plagued with issues partly because it had let too many people access the presale.
“Ticketmaster intentionally and purposefully misled ticket purchasers,” the lawsuit said.
Fans, and some politicians, directed their anger at Ticketmaster over what they said was its monopolistic practices and faulty technology in the wake of the problems.
The company, which merged with Live Nation Entertainment Inc LYV in 2010, is the dominant ticket seller in the U.S.
More than 2.4 million tickets were sold for Ms. Swift’s U.S. tour and canceled its general sale as the company did not have enough tickets.
“Ticketmaster’s service is not superior or reliable,” the lawsuit said. “The massive disaster of the Taylor Swift presale is evidence of this.”
The Justice Department is investigating Live Nation, Ticketmaster’s owner, over potential antitrust law violations.