$20M Live Nation Settlement Ends Lawsuit Claiming Event Promoter Misled Investors Amid Antitrust Investigations

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A $20 million settlement has been reached to resolve a securities class action lawsuit that claimed Live Nation Entertainment and its CEO and CFO misled investors about the company’s compliance with antitrust laws, its cooperation with governmental investigations and the regulatory risks it was facing in recent years.

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The Live Nation class action settlement, which received preliminary court approval on April 25, 2025, covers all individuals and entities that purchased the publicly traded common stock of Live Nation Entertainment, Inc. between February 23, 2022 and May 22, 2024.

To receive a pro-rated share of the settlement fund, class members must submit a timely, valid claim form by mail or online through the court-approved website for the Live Nation settlement, www.LiveNationSecuritiesSettlement.com, once it is established.

ClassAction.org will update this page when the official Live Nation settlement website is launched.

According to the settlement agreement, completed claim forms must be accompanied by adequate supporting documentation such as broker confirmation slips, broker account statements, an authorized statement from the broker containing the transactional and holding information found in a confirmation slip or account statement, or other such documents.

The $20 million settlement fund, after the payment of taxes, administrative costs, attorneys’ fees and other expenses, will be distributed to eligible class members based on their “recognized claim”—that is, the sum of their recognized loss amounts for all shares of Live Nation common stock—compared with the total claims of all class members, the agreement says.

Although it is uncertain how much each class member may receive from the deal, the average recovery per affected share of Live Nation common stock is estimated to be $0.64, before the deduction of the aforementioned fees and settlement expenses, the agreement relays. Class members may receive more or less than this estimate depending on when and at what prices they purchased and/or sold their Live Nation common stock, the total number of valid claim forms that are submitted, and other factors, the document adds.

Per the settlement agreement, no distribution will be made to class members whose Live Nation settlement payment amounts to less than $10.

Related Reading: Live Nation Class Action Lawsuit Filed After Justice Dept. Sues Over Event Promotion, Ticket-Selling ‘Monopoly’

According to the court’s preliminary approval order, notice of the Live Nation settlement will be mailed within 20 business days of April 25, 2025. Class members will then have 120 calendar days following the date of mailing to submit a claim form, the judge’s order says.

Court documents state that those who purchased qualifying common stock for the beneficial interest of individuals or organizations other than themselves must, within 14 calendar days of receipt of the settlement notice, either request from the settlement administrator sufficient copies of the postcard notice to forward to all beneficial owners, request a link to the notice and claim form to forward to all beneficial owners via email, or provide the settlement administrator with a list of all beneficial owners’ names and mailing and email addresses for the purpose of issuing settlement notices.

The court will determine whether to grant final approval to the terms of the Live Nation settlement at a hearing set for August 28, 2025.

Settlement payouts will be distributed to eligible class members only if the court ultimately approves the deal, and after any appeals or other reviews are resolved.

The Live Nation class action lawsuit contended that the company failed to disclose to investors that it engaged in anticompetitive conduct, including unlawfully tying its concert promotion services to subsidiary Ticketmaster’s services, retaliating against venues that “spurned” Ticketmaster and illegally restricting consumers’ use of other ticket resale platforms. In addition, the case alleged, Live Nation failed to mention that it was not cooperating with ongoing investigations and was therefore “likely to incur regulatory scrutiny and face fines, penalties, and reputational harm” as a result.

The filing asserted that the price of the company’s publicly traded common stock was artificially inflated between February 2022 and May 2024 thanks to its false and misleading statements. Stock prices declined “when the truth was revealed,” causing shareholders to lose substantial value in their investments, the lawsuit charged.

In May 2024, the U.S. Department of Justice (DOJ) filed a complaint against Live Nation after a multi-year investigation of the company’s allegedly anticompetitive conduct and purported violations of federal antitrust laws.

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