Live Nation to Fight Monopoly Suit Loss, Contesting Antitrust Violations
Key Takeaways
- Live Nation-Ticketmaster found in violation of antitrust law on several counts
- Jury concludes that Ticketmaster overcharged consumers by $1.72 per ticket
- Company plans to renew motion for judge to issue ruling against states, citing lack of evidence
- Separate motion to strike expert witness testimony also pending
Live Nation to Contest Monopoly Suit Loss
Live Nation-Ticketmaster has announced plans to contest a recent jury verdict that found the company in violation of antitrust law on several counts.
The verdict, which was handed down after a lengthy trial, concluded that Ticketmaster had overcharged consumers by $1.72 per ticket. In a blog post, the company stated that the verdict "is not the last word on this matter," and indicated its intention to renew a motion for the judge to issue a ruling against the states, citing a lack of evidence to support their claims as a matter of law.
Additionally, the company is awaiting the court's decision on a separate motion to strike the testimony of one of the states' expert witnesses, whose analysis allegedly influenced the jury's damages award. The company claims that this testimony should be disqualified due to alleged flaws in the expert's methodology.
In light of the verdict, Live Nation-Ticketmaster has vowed to appeal any unfavorable decisions, with a company spokesperson stating that "Live Nation can and will appeal any unfavorable …" The company's determination to fight the verdict reflects its commitment to defending its business practices and protecting its interests.
The outcome of this case is expected to have significant implications for the ticketing industry, with potential repercussions for consumers, promoters, and venues. As the situation continues to unfold, The Terminal Press will provide ongoing coverage and updates.
Live Nation's decision to contest the verdict is a clear indication that the company is prepared to take a strong stance in defense of its business practices.
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