Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Eventbrite, Inc. (“Eventbrite”) (NYSE: EB) securities: a) pursuant and/or traceable to Eventbrite’s registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with Eventbrite’s September 2018 initial public offering (“IPO”); and/or b) between September 20, 2018 and March 7, 2019, inclusive (the “Class Period”).
Eventbrite investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Eventbrite provides a platform to enable creators to plan, promote, and produce live events. In September 2017, Eventbrite acquired Ticketfly, LLC (“Ticketfly”) from Pandora Media, Inc. for $201.1 million purportedly to expand Eventbrite’s solutions for music-related events. On September 20, 2018, Eventbrite filed its prospectus on Form 424B4 with the SEC, which forms part of the Registration Statement. In the IPO, Eventbrite sold 11.5 million shares of Class A common stock at a price of $23.00 per share.
On March 7, 2019, post-market, Eventbrite issued a letter to shareholders that announced its fourth quarter 2018 financial results and provided 2019 guidance. Therein, Eventbrite indicated that its growth rate would be negatively impacted while it integrated Ticketfly. Eventbrite also stated that migration headwinds would offset “continued growth self sign-on and international for the first quarter of 2019.” Following this news, Eventbrite’s share price fell $7.96 per share, or over 24%, to close at $24.46 per share on March 8, 2019.
The complaint alleges that the Registration Statement was false and misleading and omitted to state material adverse facts. The complaint further alleges that the defendants failed to disclose to investors that: (1) Eventbrite’s 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, Eventbrite’s revenue and growth would be negatively impacted; and (4) as a result of the foregoing, the defendants’ positive statements about Eventbrite’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
If you are a member of the class described above, you may no later than June 14, 2019 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at firstname.lastname@example.org