Ticketmaster and the Cleveland Cavaliers settle Flash Seats lawsuit

Ticketmaster Entertainment and the Cleveland Cavaliers have settled their two-year-old lawsuit over the Cavs using Veritix Flash Seats technology to resell tickets.

The Cavs will be permitted to resume using the Veritix technology, which allows fans to buy and resell paperless tickets for the team's home games at Quicken Loans Arena. Dan Gilbert, owner of the Cavs, is also the majority owner of Veritix.

Terms of the settlement were not disclosed, and Veritix President Jeff Kline was unavailable for comment.

“Ticketmaster is very pleased that it could amicably resolve its dispute with the Cavaliers,” said Ticketmaster President Eric Korman in a statement.

Added Len Komoroski, president of the Cavs, "We are pleased to have reached this settlement and all can now focus on building and growing our respective businesses."

Though the matters are completely separate, Ticketmaster may have been enticed to settle with the Cavs and Veritix, which had sued on antitrust grounds, because Ticketmaster does not want such a lawsuit hanging out there as it tries to close on its proposed merger with Live Nation. That plan is currently being investigated for antitrust issues by the U.S. Department of Justice.