LOS ANGELES and BALTIMORE, Feb. 20, 2015 /PRNewswire/ — A federal court in Maryland yesterday ruled in favor of Live Nation Entertainment, Inc. (NYSE: LYV) and summarily dismissed all claims in a lawsuit filed in 2009 by It’s My Party, Inc., and It’s My Amphitheatre, Inc., whose principal is concert promoter
. The lawsuit alleged violations of federal and state antitrust laws.
In issuing summary judgment, the court invalidated key elements of the plaintiffs’ expert testimony, effectively rejecting allegations that Live Nation coerced any artists, violated any antitrust laws, or engaged in any anti-competitive conduct whatsoever. The full text of the order can be found at https://www.wsgr.com/PDFs/livenation-0215.pdf.
Live Nation issued the following statement regarding the ruling:
“We are very pleased with the judge’s ruling, which we believe validates Live Nation’s business approach and practices, and which aligns with our long-standing belief that the accusations made in this case were completely false. We feel vindicated that the court was able to see through the baseless allegations by a rival promoter and recognize that the claims of anti-competitive conduct had no merit. Our focus is, and will continue to be, providing a world-class live music experience for artists and their millions of fans.”
About Live Nation Entertainment
Live Nation Entertainment (NYSE: LYV) is the world’s leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, Live Nation Media & Sponsorship and Artist Nation Management. For additional information, visit www.livenationentertainment.com. Follow us @twitter.com/LiveNationInc
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SOURCE Live Nation Entertainment