Ticketmaster faces a class action lawsuit following a reported data breach that potentially exposed personal information of 560 million customers. The breach, allegedly carried out by a hacker group called ShinyHunters, compromised approximately 1.3 terabytes of sensitive customer data.

The stolen information reportedly includes:

• Names
• Addresses
• Purchase information
• Credit card details

The hackers are allegedly offering the complete data set for $500,000.

Two Ticketmaster users filed a 40-page lawsuit in California federal court, alleging:

• Negligence
• Breach of fiduciary duty
• Failure to implement basic security procedures

The lawsuit proposes two classes:

• Nationwide class for all affected U.S. residents
• California subclass for state residents claiming violations of:
  • California Consumer Privacy Act
  • Consumer Legal Remedies Act
  • Unfair Competition Law

The plaintiffs argue that affected customers face:

• Increased risk of identity theft
• Significant future time and monetary costs for protection
• Emotional distress and anxiety
• Long-term vulnerability to cybercrimes

This incident adds to Live Nation's recent challenges, including:

• Ongoing Justice Department investigation seeking to split up Live Nation and Ticketmaster
• $5 billion consumer class action
• Astroworld tragedy settlements

Despite these setbacks, Live Nation's stock (NYSE: LYV) remains relatively stable, trading at $93.45, showing a 17% increase since May 2023.

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