© Reuters. The brand and buying and selling data for Reside Nation Leisure is displayed on a display on the ground on the New York Inventory Alternate (NYSE) in New York, U.S., Might 3, 2019. REUTERS/Brendan McDermid
(Reuters) -The U.S. Division of Justice might file an antitrust lawsuit in opposition to live performance promoter Reside Nation Leisure (NYSE:) and its unit Ticketmaster by the tip of the 12 months, Politico reported on Friday, citing three folks with information of the matter.
Shares of Reside Nation dropped 5% in prolonged buying and selling on Friday. The corporate didn’t reply to a Reuters request for remark, whereas the DOJ declined to remark.
Earlier this 12 months, U.S. senators slammed Reside Nation’s lack of transparency and incapacity to dam bot purchases of tickets following a serious fiasco involving ticket gross sales for Taylor Swift’s long-awaited live performance tour.
The potential lawsuit might declare that the leisure big is abusing its energy over the stay music trade, Politico reported, including that the timing of the case was not agency and the DOJ might determine to drop it.