BENSALEM, Pa., June 12, 2019 (GLOBE NEWSWIRE) — Law Offices of Howard G. Smith 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”).
Investors suffering losses on their Eventbrite investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
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.
If you purchased shares of Eventbrite during the Class Period you may move the Court no later than June 14, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. 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 these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
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