Seven companies that illegally purchased and resold tickets to major events at venues such as Madison Square Garden agreed to a settlement with the state Thursday.
Eric Schneiderman, New York attorney general, said the companies have been reselling hundreds of thousands of tickets on sites such as StubHub and Vivid Seats at prices far above the original asking price. None of them have held a permit since 2011. One of the companies, Componica, LLC of Iowa, developed a ticket bot software that circumvented the “CAPTCHA” test security measure on venues’ purchasing site, according to the attorney general.
As part of the agreement, the companies agreed to pay a combined $4.19 million in disgorged profits and penalties to the state, Schneiderman said.
