LOS ANGELES (Legal Newsline) – A Live Nation stockholder alleges that she and other stockholders were damaged because of undisclosed material facts about the company's operations.

Kathryn A. Poser filed a complaint individually and on behalf of all others similarly situated on April 18 in the U.S. District Court for the Central District of California against Live Nation Entertainment Inc., Michael J. Rapino, Joe Berchtold and Jared Smith alleging violation of the Securities Exchange Act.

According to the complaint, the plaintiff alleges that she and other class members have suffered significant losses and damages as a result of defendants’ wrongful acts and omissions in making false and misleading statements about the company's business and operations. The suit states Live Nation's stock fell almost 10 percent per share in April after the publication of a New York Times article that stated Live Nation failed to abide by an antitrust consent decree with the U.S. Department of Justice after it acquired Ticketmaster.

The plaintiff hold Live Nation Entertainment Inc., Rapino, Berchtold and Smith responsible because the defendants allegedly failed to abide by the terms of the consent decree and failed to disclose material facts about the company's financial status, operations and prospects.

The plaintiffs request a trial by jury and seek judgment against the defendants, determine class action, award compensatory damages, costs, counsel fees and expert fees and further relief as the court may deem just. She is represented by Lionel Z. Glancy, Robert V. Prongay, Lesley F. Portnoy and Charles H. Linehan of Glancy Prongay & Murray LLP in Los Angeles.

U.S. District Court for the Central District of California case number 2:18-cv-03242

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