NEW YORK–(BUSINESS WIRE)–$EB #ScottScottLaw—Scott+Scott
Attorneys at Law LLP (“Scott+Scott”), an international securities
and consumer rights litigation firm, today announced that it has filed a
class action lawsuit against Eventbrite, Inc. (“Eventbrite” or the
“Company”) (NYSE: EB) and certain of its management and underwriters
(“Defendants”), seeking to recover damages under the federal securities
laws for people who purchased Eventbrite stock pursuant and/or
traceable to the Company’s initial public offering (“IPO”) in September
2018. If you acquired Eventbrite stock in the IPO, you are
encouraged to contact attorney Joe Pettigrew at (844) 818-6982 for more
information.
On September 19, 2018, Eventbrite conducted its IPO at $23 a share. The
lawsuit alleges that 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 more than 24%, closing at $24.46 on
March 8, 2019. Further, on May 1, 2019, the Company announced a first
quarter loss, along with revenue, and second-quarter guidance that were
both well below analysts’ estimates. On this news, Eventbrite’s stock
declined more than 27%, closing at $17.60 per share.
The complaint alleges that Eventbrite made false and/or misleading
statements and/or failed to disclose that, at the time of the Offering,
the migration of creators from Ticketfly to Eventbrite was progressing
more slowly than stated, forcing the Ticketfly integration to take
longer than expected, and the Company would thereby face headwinds in
revenue and growth.
What You Can Do
If you purchased Eventbrite securities in or traceable to the Company’s
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, Amsterdam,
Connecticut, California, and Ohio.
Attorney Advertising
Contacts
Joe Pettigrew
Scott+Scott
Attorneys at Law LLP
230 Park Ave, 17th Floor, NY, NY
10169
(844) 818-6982
[email protected]
