Robbins Arroyo LLP: Eventbrite, Inc. (EB) Misled Shareholders According to a Recently Filed Class Action

Apr 18, 2019 12:01 pm
SAN DIEGO & SAN FRANCISCO -- 

Shareholder rights law firm Robbins Arroyo LLP announces that a purchaser of Eventbrite, Inc. (NYSE: EB) filed a class action complaint against the company for alleged violations of the Securities and Exchange Act of 1933 pursuant to the company's September 2018 initial public offering ("IPO") and the Securities and Exchange Act of 1934 between September 20, 2018 and March 7, 2019. Eventbrite provides a platform to enable creators to plan, promote, and produce live events.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/eventbrite-inc/

According to the complaint, in September 2017, Eventbrite acquired Ticketfly, LLC from Pandora Media for $201.1 million. On September 20, 2018, Eventbrite held its IPO, offering its stock at $23.00 per share and generating $246 million in proceeds based on misleading offering documents. In particular, Eventbrite failed to disclose the negative impact of the Ticketfly acquisition. On March 7, 2019, Eventbrite revealed that integrating Ticketfly was taking longer than expected and would negatively impact its future growth and revenue. On this news, Eventbrite’s share price plummeted $7.96 per share, or over 24%, to close at $24.46 per share on March 8, 2019, and has continued to fall.

Eventbrite Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leo Kandinov at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San Diego, CA 92122
[email protected]
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com