Safirstein Metcalf LLP, announces that a class action lawsuit has been filed in the United States District Court Central District of California, on behalf of persons and entities that acquired Live Nation Entertainment, Inc. (“Live Nation” or the “Company”) (NYSE:LYV) securities between February 23, 2017 and March 30, 2018, inclusive (the “Class Period”).
If you purchased or acquired Live Nation securities during the Class Period and would like more information about the shareholder class action, please contact Safirstein Metcalf LLP at 1-800-221-0015, or email info@SafirsteinMetcalf.com
If you wish to serve as lead plaintiff, you must move the Court no later than June 18, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member.
The complaint 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 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% to close at $38.17 on April 2, 2018.