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NY attorney general settles with ticket brokers

Posted: 6:08 AM, Apr 27, 2016
Updated: 2016-04-27 06:55:19-04

New York Attorney General Eric Schneiderman has announced a $2.76 million settlement with six ticket brokers as part of its investigation into the concert and sports ticketing industry.

The settlement, which was announced Tuesday, stems from an investigation detailed in a January report that found abuses preventing consumers from buying tickets at affordable prices or sometimes not at all.

The New York Times ( http://nyti.ms/1ryscfO  ) reports the attorney general found that the six brokers sold tickets in New York without a proper license.

Five of the brokers used software, called "ticket bots," to quickly purchase tickets for resale at huge markups, which is prohibited in New York.

The settlement requires the companies to stop using bots and to obtain proper licenses as ticket resellers.