The US Justice Department and almost 30 states sued Live Nation Entertainment Inc. seeking to force the company to sell off ticketing giant Ticketmaster.

In a complaint filed Thursday in New York federal court, antitrust enforcers alleged that Live Nation and Ticketmaster illegally monopolized the live events industry by engaging in a variety of anticompetitive practices. Those include locking venues into long-term exclusive contracts and retaliating against rivals and venues that seek to use alternatives.

Shares of Live Nation were down 5.5% to $95.84 at 11:05 a.m. in New York, shortly after the lawsuit was filed.

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