NEW YORK, May 02, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of purchasers of the securities of Eventbrite, Inc. (NYSE: EB) (the “Company” or “Eventbrite”) from September 20, 2018 through March 7, 2019, inclusive (the “Class Period”), and/or traceable to Eventbrite’s September 20, 2018 initial public offering (the “IPO”) at $23.00 per share.
Investors who purchased shares of are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website www.whafh.com.
If you have incurred losses in the shares of Eventbrite, Inc., you may, no later than June 14, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Eventbrite, Inc.
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According to the filed complaint, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Eventbrite’s migration of customers from Ticketfly to Eventbrite was progressing slower
than expected;
- the Ticketfly integration would take longer than expected;
- Eventbrite’s revenue and growth would be negatively impacted; and
- as a result of the foregoing, defendants’ positive statements about Eventbrite’s
business, operations, and prospects, were materially misleading and lacked a
reasonable basis.
On March 7, 2019, the Company surprised the market by revealing that the integration of Ticketfly would negatively impact the Company’s growth and revenue. On this news, EventBrite’s share price fell over 74% to close at $24.46 on March 8, 2019.
Subsequently, on May 2, 2019, Eventbrite plunged an additional 30 percent after reporting a wider-
than-expected first-quarter loss and revenue below expectations. The online-ticket platform company also issued second-quarter revenue guidance of $74 million to $78 million versus the average analyst estimate of $82.4 million. The shares traded as low as $15.30 per share intra-day on May 2, 2019.
Shares of Eventbrite have dropped 26 percent since the September 20, 2018 IPO and are 55 percent below the closing high of $37.97 reached on September 28, 2018.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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