Live Nation Hid Conduct, Antitrust Risks, Investor Suit Says

US government scrutiny of Live Nation Entertainment Inc. over its allegedly anticompetitive conduct in the music industry has led to stock-price drops, investors say in a proposed class action filed Friday.

Concerns about antitrust enforcement continue to dog Live Nation after its 2010 merger with Ticketmaster under a consent decree to preserve competition, shareholder Brian Donley says in his complaint, filed in the US District Court for the Central District of California.

The Senate Judiciary Subcommittee on Competition Policy, Antitrust, and Consumer Rights encouraged the Department of Justice in February to take action if it found Live Nation had “walled ...