- Key Investment Group (KIG) is facing a federal lawsuit for allegedly buying and reselling over 379,000 tickets, including for Taylor Swift concerts, at significant markups.
- The Federal Trade Commission (FTC) claims KIG purchased tickets worth approximately $57 million and resold them for $64 million, generating over £1.2 million profit from Taylor Swift tickets alone.
- KIG allegedly bypassed Ticketmaster's security measures and purchasing limits using various tactics, including spoofed IP addresses, fake accounts, and numerous SIM cards.
- The lawsuit asserts that KIG violated the FTC Act and the Better Online Ticket Sales Acts by circumventing technological controls designed to enforce ticket limits.
- Key Investment Group has stated it will "vigorously defend itself" against the allegations, characterising the lawsuit as "regulatory overreach" and a misinterpretation of the law.
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