Kessler Topaz Meltzer & Check, LLP: Investor Class Action Filed Against Eventbrite, Inc. (EB) for Securities Fraud

Case Background:

On April 15, 2019, the initial complaint in this securities class action was filed against Eventbrite, Inc. (“Eventbrite” or the “Company”) and certain of Eventbrite’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act. This securities class action is on behalf of all persons and entities that: a) purchased or otherwise acquired Eventbrite, Inc. securities pursuant or traceable to Eventbrite’s registration statement and prospectus issued in connection with the Company’s September 2018 initial public offering; or b) purchased or otherwise acquired Eventbrite securities between September 20, 2018 and May 1, 2019, inclusive.

The complaint 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, the complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s migration of customers from Ticketfly to Eventbrite was progressing slower than expected; (2) the Ticketfly integration would take longer than expected; (3) the Company’s revenue and growth would be negatively impacted; and (4) as a result of the foregoing, Defendants’ positive statements about the

Current Status of Case:

On July 29, 2020, the parties entered into a Stipulation and Agreement of Settlement to resolve the action in the amount of $1,900,000.  On January 22, 2021, the Court entered an Order denying Plaintiffs’ Motion for Preliminary Approval of Class Action Settlement until after the San Mateo County Superior Court (“State Court”) ruled on the state court plaintiff’s Motion for Class Certification in a parallel class action in that court.  The State Court entered an Order granting Class Certification on February 22, 2021.  On June 1, 2021, the State Court ordered the parties to conduct a mediation no later than July 30, 2021. A Status Conference is set for April 21, 2022. The action is ongoing.       

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.