Paul Sakuma/AP via CNN NewsourceNew York (CNN) — The United States federal government and seven states are suing Ticketmaster and its parent company, Live Nation Entertainment, for failing to crack down on ticket resellers, which is forcing customers to “pay substantially more than face value” for popular concerts and events. The Federal Trade Commission leveled a litany of accusations against Live Nation in its press release Thursday, including “bait-and-switch pricing,” where consumers often pay more than advertised, and said claims that the company imposes “strict limits” on ticket purchases are false since “ticket brokers routinely and substantially exceeded those limits.”Shares of Live Nation (LYV) dropped more than 2% in midday trading. “American live entertainment is the best in the world and should be accessible to all of us,” said FTC Chairman Andrew Ferguson in a release. “It should not cost an arm and a leg to take the family to a baseball game or attend your favorite musician’s show.”Ticketmaster dominates the market, controlling ticketing for about 80% of major venues in the United States. Consumers spent nearly $83 billion buying tickets from the company between 2019 to 2024, the FTC said.