Live Nation Entertainment

On June 21, 2024, Bottini & Bottini filed a shareholder case on behalf of its client against the board of directors of Live Nation Entertainment. The complaint asserts claims for breach of fiduciary duty and aiding and abetting breach of fiduciary duty against the board and Defendant Leiweke, and alleges that in the years following the Live Nation/Ticketmaster merger, Live Nation’s officers and directors cause Live Nation to engage in anticompetitive conduct and antitrust violations in defiance of a consent decree with the Department of Justice.

Live Nation’s board of directors misrepresented to the Company’s shareholders and the investing public that Live Nation was cooperating with federal investigators, when in fact the opposite was true: Live Nation was actively attempting to thwart the federal investigations and was not cooperating with them. The Board’s failure to cause the Company to cooperate and failure to adhere to the terms of the 2010 consent decree directly led the United States Department of Justice and multiple State Attorney Generals in May 2024 to seek damages and a breakup of the Company. Examples of the alleged misconduct include the fact that in 2021 Live Nation “threatened commercial retaliation” against the private equity firm Silver Lake, which had an investment in TEG, an Australian ticketing and promotions company that was involved in a highly anticipated benefit show by Kanye West and Drake at the L.A. Coliseum.

If you are a shareholder of LIve Nation and are interested in how you can participate in the case, please call us at (858) 914-2001 or email Frank A. Bottini, Esq. at fab@bottinilaw.com.

A copy of the complaint is contained below.