Live Nation investigates Ticketmaster hack amid concerns about user data loss

Last week, a little-known cybercrime group called ShinyHunters claimed to have stolen user data from over 500 million Ticketmaster customers, according to various media reports.

Live Nation did not mention ShinyHunters in its SEC filing.

The company did not immediately respond to Reuters' request for comment.

The breach came as the concert promoter was battling antitrust problems. Live Nation faced the first of a wave of consumer lawsuits last week after the U.S. government and states filed suits to break up the company, arguing that the company, along with its subsidiary Ticketmaster, illegally inflated concert ticket prices.

In its filing, Live Nation stated that on May 27, “a criminal threat actor allegedly offered the company's user data for sale via the dark web.”

“We are working to reduce the risk to our users and the company and have notified and are cooperating with law enforcement authorities,” the company said. “When necessary, we also notify regulators and users about unauthorized access to personal information.”

The breach has not had and is not expected to have a material impact on Live Nation's business or finances, the company said.

“We continue to assess the risks and our remediation efforts are ongoing,” Live Nation said.

(Reporting by Zeba Siddiqui in San Francisco; Editing by Leslie Adler)

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