Nefarious secondary ticketing platforms TicketNetwork and Ticket Galaxy have settled their criminal lawsuits.
Both ticket resellers settled a lawsuit with the New York Attorney General, Letitia James. Both had undertaken resale tickets neither TicketNetwork nor Ticket Galaxy actually owned.
In the settlement, the companies – owned by Donald Vaccaro – didn’t admit to liability. TicketNetwork and Ticket Galaxy had fered consumers tickets on the secondary market. Yet, after making the purchase, the companies would then purchase the legitimate tickets at a much lower price.
The Attorney General had accused both platforms misleading thousands consumers into purchasing ‘speculative’ tickets.
In a statement, James had explained,
“Because their dishonest practices, these companies defrauded thousands New Yorkers and duped customers into spending millions dollars on speculative tickets. We’re holding these companies accountable for their deceptive practices that swindled New Yorkers out their hard-earned money and are putting in place reforms to protect ticket buyers in the future.”
A slap on the wrist.
James had accused TicketNetwork and Ticket Galaxy knowingly selling unowned tickets at hundreds thousands dollars above face value.
In some cases, the platforms failed to provide customers with their orders. Vacarro’s companies would mislead consumers, pinning the blame on technical and supplier issues.
As part the deal, Vacarro has agreed to pay $1.6 million. News the settlement came on the final day ticketing conference event, Ticket Summit.
Spinning the news and actively promoting his companies, Vacarro said,
“Our company has now achieved the clarity and certainty that we initially sought through our lawsuit against the NYAG.”
He added the company will move forward as a “leader in the ticket resale industry.” Again, refusing to admit to his fraudulent practices, Vacarro added the platform would provide a “safe, secure, and cost-efficient ways” to obtain tickets to popular events.
“TicketNetwork continues to represent the gold standard in customer service in this industry for our many repeat customers.”
Whether that ‘gold standard’ means the companies will continue actively defrauding concertgoers remains to be seen. After all, when charging customers thousands dollars in premiums, a $1.6 million settlement won’t likely harm Vacarro nor his fraudulent platforms.