Glancy Prongay & Murray LLP (GPM) announces that it has filed a class action lawsuit in the United States District Court for the Northern District of California, captioned Gomes v. Eventbrite, Inc. et al., (Case No. 3:19-cv-02019), on behalf of Eventbrite, Inc. (NYSE: EB) (Eventbrite or the Company) investors who: a) purchased or otherwise acquired Eventbrite securities pursuant and/or traceable to the Companys false and/or misleading registration statement and prospectus (collectively, the Registration Statement) issued in connection with the Companys September 2018 initial public offering (IPO or the Offering); and/or b) purchased or otherwise acquired Eventbrite securities between September 20, 2018 and March 7, 2019, inclusive (the Class Period).
Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.
If you are a shareholder who suffered a loss, click here to participate.
On September 19, 2018, Eventbrite sold shares in its initial public offering (IPO) at $23 per share. In the IPO registration statement, Eventbrite stated that its acquisition of Ticketfly had a positive impact on our net revenue growth in the third quarter of 2017. On March 7, 2019, Eventbrite reported its annual financial results, and in a related conference call, Eventbrites Chief Executive Officer and co-founder, Julia Hartz, stated that the strategy to integrate Ticketfly will impact revenues in the short-term.
On this news, shares of Eventbrite fell 7.96, or over 24%, to close at $24.46 on March 8, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Companys migration of customers from Ticketfly to Eventbrite was progressing slower than expected; (2) that, as a result, the Ticketfly integration would take longer than expected; (3) that, as a result, the Companys revenue and growth would be negatively impacted; and (4) that, as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
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If you purchased Eventbrite securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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