Ticketmaster Investor Fights To Block Merger

Law360, New York (February 17, 2009, 12:00 AM EST) -- An investor has launched a proposed class action against Ticketmaster Entertainment Inc. and its board of directors, accusing the executives of breaching their fiduciary duty to shareholders by taking advantage of the low price of the company’s stock to sell the ticketing giant to rival and concert promoter Live Nation Inc. for less than its worth.

The complaint, filed Friday in the Superior Court of the State of California, Los Angeles County, by Michigan resident Jack McBride, is seeking compensatory damages, as well as an injunction...
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