Scott+Scott Attorneys at Law LLP (Scott+Scott), a national securities and consumer rights litigation firm, is notifying investors that a federal class action lawsuit has been filed against Eventbrite, Inc. (Eventbrite or the Company) (NYSE:EB) and certain of its officers, directors and underwriters (collectively, Defendants). If you purchased Eventbrite securities pursuant and/or traceable to the Companys initial public offering (IPO) in September 2018 or otherwise acquired Eventbrite securities between September 20, 2018 and March 7, 2019 (inclusive), you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for more information.
Eventbrite provides a platform to enable creators to plan, promote, and produce live events.
On September 19, 2018, Eventbrite sold shares in its IPO at $23 per share. According to the lawsuit, 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, however, Eventbrite reported its annual financial results, and in a related conference call, 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.
According to the lawsuit, Defendants made false and/or misleading statements and/or failed to disclose: (1) the Companys migration of customers from Ticketfly to Eventbrite was progressing slower than expected; (2) as a result, the Ticketfly integration would take longer than expected; (3) as a result, the Companys revenue and growth would be negatively impacted; and (4) 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.
What You Can Do
If you purchased Eventbrite securities in or traceable to the Companys IPO, acquired Eventbrite securities between September 20, 2018 and March 7, 2019, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at [email protected]. The lead plaintiff deadline is June 14, 2019.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.