Glancy Prongay & Murray LLP Files a Securities Class Action on Behalf of Eventbrite, Inc. Investors (EB)

Benzinga - Stock Market News

Glancy
Prongay & Murray LLP
 (“GPM”) announces that it has filed a class
action lawsuit in the United States District Court for the Northern
District of California, captioned Gomes v. Eventbrite, Inc. et al.,
(Case No. 3:19-cv-02019), on behalf of Eventbrite, Inc. (NYSE: EB)
(“Eventbrite” or the “Company”) investors who: a) purchased or otherwise
acquired Eventbrite securities pursuant and/or traceable to the
Company’s false and/or misleading registration statement and prospectus
(collectively, the “Registration Statement”) issued in connection with
the Company’s September 2018 initial public offering (“IPO” or the
“Offering”); and/or b) purchased or otherwise acquired Eventbrite
securities between September 20, 2018 and March 7, 2019,
inclusive (the “Class Period”).

Investors are hereby notified that they have 60 days from the date of
this notice
to move the Court to serve as lead plaintiff in this
action.

If you are a shareholder who suffered a loss, click here
to participate.

On September 19, 2018, Eventbrite sold shares in its initial public
offering (“IPO”) at $23 per share. 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, 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.”

On this news, shares of Eventbrite fell 7.96, or over 24%, to close at
$24.46 on March 8, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the
Class Period, Defendants made false and/or misleading statements, as
well as failed to disclose material adverse facts about the Company’s
business, operations, and prospects. Specifically, Defendants made false
and/or misleading statements and/or failed to disclose: (1) that the
Company’s migration of customers from Ticketfly to Eventbrite was
progressing slower than expected; (2) that, as a result, the Ticketfly
integration would take longer than expected; (3) that, as a result, the
Company’s revenue and growth would be negatively impacted; and (4) 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.

Follow us for updates on Twittertwitter.com/GPM_LLP.

If you purchased Eventbrite securities during the Class Period, you may
move the Court no later than 60 days from the date of this
notice 
to ask the Court to appoint you as lead plaintiff. To be
a member of the Class you need not take any action at this time; you may
retain counsel of your choice or take no action and remain an absent
member of the Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Lesley Portnoy,
Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

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