Key Points
A group of almost 400 fans of Taylor Swift and other musicians filed a new lawsuit in California state court on Friday against Ticketmaster and its parent company Live Nation, accusing them of colluding with partner organizations to drive up ticket prices for concertgoers...
The complaint, which expands on an existing federal court case brought by Swift fans, accuses Ticketmaster and Live Nation of engaging in a pattern of racketeering activity whereby ticket buyers are made to part with more money than they are led to believe, and well exceeding the value of the products and services they receive...
The plaintiffs allege that Ticketmaster and Live Nations conduct amounts to a violation of the Racketeer Influenced and Corrupt Organizations Act, better known as RICO..
The original lawsuit brought by the Swift fans accused Ticketmaster and Live Nation of breach of contract, fraud, misrepresentation, and antitrust violations..
Meanwhile, by entering into exclusivity contracts with large venues and forcing fans to resell tickets through its own resale marketplace, the lawsuit claims, Ticketmaster established a monopoly that it wields to inflate ticket prices for its own financial gain...
