Ticketmaster faces a class action lawsuit following a massive data breach reportedly affecting 560 million customers. The breach, attributed to a hacker group called ShinyHunters, allegedly involved 1.3 terabytes of sensitive customer information, including names, addresses, purchase details, and partial credit card information.

The hackers reportedly offered to sell the complete data set for $500,000, as evidenced by messaging-board screenshots showing samples of the allegedly stolen information.

Two Ticketmaster users filed the lawsuit in California federal court, alleging:

• Negligence
• Breach of fiduciary duty
• Failure to implement basic security procedures
• Violations of California Consumer Privacy Act
• Violations of Consumer Legal Remedies Act
• Violations of Unfair Competition Law

The lawsuit proposes two classes:

• A nationwide class for all affected U.S. residents
• A California subclass for state residents

The plaintiffs argue that affected customers now face:

• Increased risk of identity theft
• Significant time and money costs for protection
• Emotional distress and anxiety
• Extended vulnerability to future cybercrimes

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

• An ongoing Justice Department investigation seeking to split up Live Nation and Ticketmaster
• A separate $5 billion consumer class action
• Recent Astroworld tragedy settlements

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

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