Live Nation/Ticketmaster, the giant event conglomerate that concert fans love to loathe, is facing yet another federal lawsuit.

The Federal Trade Commission (FTC) and seven states sued the company Sept. 18, accusing it of “tacitly coordinating with brokers and allowing them to harvest millions of dollars worth of tickets in the primary market,” according to a statement from the FTC.

According to the suit, ticket brokers create thousands of proxy Ticketmaster accounts that go to work when a major music, sporting or other event goes on sale online, pulling massive numbers of face-value tickets out of circulation for ordinary buyers and putting them up for sale on secondary ticket marketplaces at big markups.

Ticketmaster not only does little to prevent the practice, the FTC alleges, it fa

See Full Page