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CST: 18/06/2019 14:15:40   

Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Eventbrite, Inc.

28 Days ago

LOS ANGELES, May 20, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming June 14, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of Eventbrite, Inc. (“Eventbrite” or the “Company”) (NYSE: EB) 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”).

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

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, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.

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 Twitter: twitter.com/GPM_LLP.

If you purchased or otherwise acquired Eventbrite securities during the Class Period you may move the Court no later than June 14, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, 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.

Contacts
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com

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