FRANKFURT (CelebrityAccess) CTS Eventim stock dropped as much as 10 percent Thursday as Germany’s Federal Supreme Court ruled that the fees the ticketing company charges for print-at-home ducats are illegal.
The case was brought by consumer rights watchdog group Verbraucherzentrale regarding Eventim’s 2.50 euro (US$2.86) fee for printing at home, saying the judgment will set a precedent to protect consumers.
“As prices explode, tickets for popular artists are increasingly becoming a luxury,” said Wolfgang Schuldzinski, head of the Verbraucherzentrale, according to Reuters.
The court also found that a “premium” delivery fee of 14.90 euros for AC/DC tickets in 2015 were illegal because they were sent by regular mail.
“We acknowledge this judgment by the Federal Supreme Court and will implement it,” said a spokesman for Eventim, according to Reuters.
Eventim shares were down 6.5 percent after hitting their lowest level since March 2017.