FTC Sues REPS for Buying 18.5 Million Tickets Illegally

fact_check Facts

1. The Federal Trade Commission sued REPS & Company Inc.

2. The complaint alleges REPS & Company Inc. spent more than $1.3 billion to buy over 18.5 million tickets.

3. The complaint alleges REPS & Company Inc. generated at least $120.8 million in profit.

4. The complaint alleges REPS & Company Inc. illegally bypassed security measures.

5. The complaint alleges REPS violated the Better Online Ticket Sales Act.

6. The complaint alleges REPS used unlawful tactics to deprive ordinary fans of access to reasonably priced tickets.

7. REPS purchased more than eight tickets for at least 83,500 events.

8. The complaint alleges REPS generated $833,000 in profit from one Beyonce concert by using 1,300 accounts to buy 7,624 tickets.

9. The complaint names CEO Ryan Pancheri as a defendant.

10. The complaint names President Brian Archibald as a defendant.

11. The complaint names COO Nicholas Totagrande as a defendant.