Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of Eventbrite, Inc. (Eventbrite or the Company) (NYSE: EB) 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). Eventbrite investors have until June 14, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Eventbrite investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
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.
If you purchased shares of Eventbrite, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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