WASHINGTON (AP) — Live Nation Entertainment Inc.'s Ticketmaster unit has reached a settlement with federal regulators to refund money to people who bought marked-up tickets to 14 Bruce Springsteen concert tickets last year.
The settlement was announced Thursday by the Federal Trade Commission. It would will give customers the difference between the marked-up price and the face value of their tickets.
The FTC launched an investigation into Ticketmaster's practices after Springsteen fans who tried to buy tickets for concerts in May and June encountered a "no tickets found" message on Ticketmaster's Web site. They were redirected to the company's TicketsNow.com resale site to buy higher-priced tickets.
Ticketmaster blamed the incident on a "glitch."