Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Eventbrite, Inc. (Eventbrite or the Company) (NYSE:EB) of the June 14, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Eventbrite stock or options pursuant and/or traceable to the Companys September 2018 initial public offering (IPO) or between September 20, 2018 and March 7, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/EB. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Eventbrite securities pursuant and/or traceable to the Companys September 2018 initial public offering (IPO) or between September 20, 2018 and March 7, 2019 (the Class Period). The case, Gomes v. Eventbrite, Inc. et al, No. 19-cv-02019 was filed on April 15, 2019.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing 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
On March 7, 2019, post-market, the Company issued a letter to shareholders that announced its fourth quarter 2018 financial results and provided 2019 guidance. Therein, the Company indicated that its growth rate would be negatively impacted while it integrated Ticketfly.
On this news, the Company’s stock price fell from $32.42 per share on March 7, 2019 to $24.46 per share on March 8, 2019a $7.96 or 24.55% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Eventbrites conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
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York, NY 10017
Attn: Richard Gonnello, Esq.
(877) 247-4292 or (212) 983-9330