Live Nation Entertainment Inc.'s site as seen on a cellphone screen. Photo: Adobe Stock Live Nation Entertainment's Board of Directors Hit With Securities Complaint Tied to DOJ Antitrust Suit
The complaint, filed by Bottini & Bottini in California's Central District Court last Friday, argues that the defendants, including Live Nation CEO Michael Rapino, breached their fiduciary duties by failing to prevent antitrust violations and defying a 2010 consent decree prohibiting anti-competitive conduct.
June 25, 2024 at 09:59 AM
4 minute read
What You Need to Know
- Live Nation Entertainment's board of directors was slapped with a shareholder derivative complaint last Friday.
- The suit alleges that Live Nation's board failed to disclose its noncompliance with a 2010 consent decree prohibiting the company from engaging in anti-competitive conduct.
- The claim was filed just one month after the DOJ sued Live Nation for antitrust violations.
Live Nation Entertainment's board of directors was slapped with a shareholder derivative suit just one month after the company was sued by the Department of Justice for allegedly engaging in anti-competitive practices to monopolize the concert industry.
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