$500 Million Class Action Law Suit Against Ticketmaster & Friends
News broke out today of a $500 Million Class Action lawsuit on Ticketmaster Entertainment Inc., Ticketmaster Canada Ltd., TicketsNow Entertainment Group Inc. and Premium Inventory Inc. The lawsuit claims that the defending companies diverted ticket sales away from the lower priced public website to their brokering website ticketsnow.com for premium prices. The act of reselling tickets in the secondary market for a price that exceeds the face value is illegal in accordance to Ontarios anti-scalping legislation.
The plaintiff who brought on this lawsuit purchased two concert tickets for a price of $533.65 on the TicketsNow website that would have gone for $133.00 on Ticketmaster if they were posted on the site. However these tickets were not on Ticketmaster but rather their secondary associate, TNow. This lawsuit is to cover all orders dating back to February 9, 2007. With all this press surrounding Ticketmaster from the possible merger with Live Nation, to this lawsuit the watchful eyes are keeping a keen look on this company and their direction.
For more information on the lawsuit visit The Ticketmaster Class Action Website
Great news!
When I was younger concert tickets were easy to get if you were willing to wait in line. That made sure the people who wanted to see the bands the most got the tickets. Now it’s just who has the most money.
This is all Ticketmasters fault, they have sold us this attitude that it’s a acceptable business practice.
Well it isn’t and I hope they find them guilty and punish them heavily.
Thanks for the comment Sean… I wish devoted fans still were able to go to shows rather than the people with the money. I have gone to a ton of shows and you can tell that in the last 6 years or so, the crowds have definitely turned lame - this i attribute solely to what your talking about, Ticketmaster and the money hungry way.