Eventbrite, Inc. (NYSE: EB) Investor Securities Class Action Lawsuit 04/15/2019

If you purchased shares of Eventbrite, Inc. (NYSE: EB), you have certain options and for certain investors are short and strict deadlines running. Deadline: June 14, 2019. NYSE: EB investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Eventbrite
Case Name: 
Eventbrite Shareholder Class Action Lawsuit 04/15/2019
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: EB
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
04/15/2019
Class Period Begin: 
09/20/2018
Class Period End: 
03/07/2019
Court of Filing: 
U.S. District Court for the Northern District of California
Deadline To File for Lead: 
06/14/2019
Summary: 

An investor in shares of Eventbrite, Inc. (NYSE: EB) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Eventbrite, Inc. in connection with certain allegedly false and misleading statements made in connection with the Company’s September 2018 initial public offering.

San Fransisco, CA based Eventbrite, Inc. operates a ticketing and event technology platform in the United States and internationally. On September 19, 2018, Eventbrite, Inc went public at a price of $23 per share. In the Prospectus issued in relation to the offering, Eventbrite stated that its acquisition of Ticketfly “had a positive impact on our net revenue growth” in Q3 2017.

On March 7, 2019, Eventbrite, Inc. reported its annual fourth quarter and fiscal year 2018 financial results.

Eventbrite, Inc. reported that its annual Total Revenue rose from $201.59 million in 2017 to $291.61 million in 2018 and that Net Loss increased from $38.54 million in 2017 to $64.07 million. In a related conference call, Eventbrite’s CEO and co-founder, Julia Hartz, stated that the strategy to integrate Ticketfly “will impact revenues in the short-term.” On March 7, 2019, Eventbrite reported its annual financial results, and in a related conference call, Eventbrite’s Chief Executive Officer and co-founder, Julia Hartz, stated that the strategy to integrate Ticketfly “will impact revenues in the short-term.”
Shares of Eventbrite, Inc. (NYSE: EB) declined to $19.77 per share on March 20, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Eventbrite, Inc. (NYSE: EB) common shares between September 20, 2018 and March 7, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that the Company’s migration of customers from Ticketfly to Eventbrite was progressing slower than expected, that that, as a result, the Ticketfly integration would take longer than expected, that, as a result, the Company’s revenue and growth would be negatively impacted, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.