Attorney General Barbara Underwood filed a lawsuit Friday against TicketNetwork, Inc., Eventvest, Inc. d/b/a Ticket Galaxy, and the companies’ owner, Donald Vaccaro. for tricking tens of thousands of unsuspecting fans into buying tickets to concerts, shows, and other live events that the sellers did not actually have yet.
From the official press release:
“The illegal conduct allegedly at issue centers on undisclosed “speculative tickets” – offers to sell tickets that the ticket seller does not have, has not yet purchased, and does not have a contractual right to obtain. Only after a consumer places an order for speculative tickets does the listing broker attempt to purchase the real tickets, at a lower price and from a different source, to provide to the buyer. The broker keeps the difference between the price that he paid and the price at which he sold the speculative ticket.”
Underwood says New York consumers unknowingly placed over 96,000 orders through these speculative ticket programs between 2012 and 2018.