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Two Festivals File Lawsuit Against Collapsed Ticketing Company Lyte
Lyte, the collapsed ticketing company, has been sued by two independent festivals it was helping scalp VIP tickets.
The sudden closure of the company, without any warning to its hundreds of clients, revealed that Lyte CEO Ant Taylor, a Princeton graduate and former media executive, had quietly shifted the business into large-scale ticket scalping in recent years. The team behind Lost Lands Music Festival, which takes place each September in Legend Valley, Ohio says its owed $330,000 for the tickets it sold on Lyte, plus the upside it generated from the markups. According to a court filing, APEX’s consultant for Lost Lands, concert giant AEG Presents, had learned that Taylor had resigned as Lyte’s CEO on Sept. 12, and “that Lyte had ceased virtually all of its business operations and laid off virtually all of its employees,” attorney Eric Levinrad writes in a recent court filing.
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