The Federal Trade Commission launched a lawsuit against Live Nation and its parent company Ticketmaster, accusing the corporations of making millions of dollars through illegal sales activities. Listing a total of seven specific charges, the FTC said in a statement: “The Federal Trade Commission and seven states sued Live Nation and Ticketmaster for tacitly coordinating with brokers and allowing them to harvest millions of dollars worth of tickets in the primary market. READ MORE: DOJ Will Sue to Break Up Live Nation and Ticketmaster: Report“Live Nation and Ticketmaster then sell the illegally harvested tickets at a substantial markup in the secondary market, causing consumers to pay significantly more than the face value of the ticket. FTC Boss Says Ticketmaster Lawsuit Is Monumental StepCiting its duty to “protect Americans from being ripped off when they buy tickets to live events,” FTC Chairman Andrew N. Ferguson said: “American live entertainment… should be accessible to all of us. Ticketmaster controls 80 percent or more of major venue ticket sales and also has a strong presence in the secondary market.