has announced a $1.55 million settlement resolving a lawsuit against TicketNetwork, Ticket Galaxy and their ownerfor misleading tens of thousands of customers into purchasing speculative tickets for concerts and other live events.
The settlement, which was announced on July 10, was revealed on the final day of Ticket Summit, a ticketing conference organized by TicketNetwork and ticket reseller DTI Management. According to the NYAG’s office, Ticket Galaxy and other brokers listed tickets for popular events before tickets to those events had even been released for sale to the public. During this period — when few other tickets were available — the demand for tickets was so great that Ticket Galaxy and other brokers charged enormous premiums for tickets, at times hundreds or thousands of dollars above face value.
Many consumers who purchased speculative tickets paid vastly inflated prices, received tickets that were different from what was advertised or didn’t receive tickets at all.
boo-hoo