Live Nation Board Allegedly Hid Anticompetitive Acts, DOJ Risks

Live Nation Entertainment Inc.’s directors allegedly concealed the company’s anticompetitive misconduct in public filings and other disclosures before a Department of Justice investigation highlighted antitrust concerns, according to a shareholder derivative complaint.

The suit, filed in the US District Court for the Central District of California on Nov. 10, comes on the heels of a proposed class action filed in August against the company and certain executives, highlighting the same stock drops that occurred after the DOJ announced its investigation..

The shareholder derivative suit alleges that the directors and CEO Michael Rapinomisled investors ahead of the DOJ investigation, ...