Ticketmaster has been hit with a class action lawsuit following reports of a massive data breach affecting 560 million customers. The breach, allegedly carried out by hacker group ShinyHunters, involved the theft of 1.3 terabytes of sensitive customer information.

The stolen data reportedly includes:

• Names
• Addresses
• Purchase information
• Credit card details

Two Ticketmaster users filed the 40-page 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 hackers are reportedly offering the entire data collection for $500,000. The lawsuit proposes two classes:

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

Impact on affected customers:

• Increased risk of identity theft
• Significant time and money spent on protection measures
• Emotional distress and mental anguish
• Long-term vulnerability to cybercrime

Despite this setback, Live Nation's stock (NYSE: LYV) remains relatively stable, down less than 1% over five trading days, with current price at $93.45 - a 17% increase from May 2023.

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

• DOJ investigation into possible company split
• $5 billion consumer class action
• Recent Astroworld tragedy settlements

Live Nation has not publicly commented on the breach as they assess and address potential damages.

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