WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Live Nation Entertainment, Inc. (NYSE: LYV) resulting from allegations that Live Nation may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Live Nation securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT IS THIS ABOUT: On November 5, 2021, the Astroworld tragedy occurred, resulting in at least 9 deaths, hundreds of injuries, and the hospitalization of 25 people. Live Nation promoted the event.
According to an Associated Press article entitled "Crowd surge kills at least 8 at Houston music festival," the crowd at Astroworld "suddenly surged toward the stage during a performance by rapper Travis Scott, squeezing fans so tightly together that they could not breathe or move their arms and killing eight people in the chaos." The article also noted that "[s]ome audience members said barricades erected near the stage and to separate different sections of ticket holders prevented fans from escaping."
Since the tragedy, dozens of lawsuits have been filed against Live Nation, many of which allege that the concert organizers created conditions that caused the stampedes and failed to provide proper safety planning, security, and medical personnel. According to a Billboard article, "[e]xperts have told Billboard that the litigation over the deadly event – which left eight dead and scores more injured – could ultimately see hundreds of individual claims and that potential damages or settlements could reach hundreds of millions of dollars."
On this news, the Company's share price fell 5.7% on November 8, 2021, the next trading day after the tragedy.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.