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NEW YORK, April 23, 2019 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announced today that approximately seven weeks remain to file a motion for lead plaintiff in a class action pending in the United States District Court for the Northern District of California on behalf of all persons or entities (the “Class”) who purchased the securities of EventBrite, Inc. (“EventBrite” or the “Company”) between September 20, 2018 and March 7, 2019 (the “Class Period”), including pursuant to EventBrite’s initial public offering in September 2018 (the “IPO”). The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Sections 11 and 15 of the Securities Act of 1933.
EventBrite is a California-based event management and ticketing website. On September 20, 2018, the Company filed its prospectus in connection with the IPO. In the prospectus, Defendants made numerous misrepresentations about the Company’s acquisition of Ticketfly, LLC (“Ticketfly”), which the Company purportedly acquired to expand EventBrite’s solutions for music-related events. Defendants also allegedly made misstatements during the Class Period relating to the Company’s 3Q18 financial results. 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 24% to close at $24.46 on March 8, 2019.
Plaintiff seeks to recover damages on behalf of all Class members who invested in EventBrite securities during the Class Period, including in the IPO. If you invested in EventBrite securities as described above, and lost money on the transactions, you may wish to join in this action to serve as lead plaintiff. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than June 14, 2019.
A “lead plaintiff” is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Bernstein Liebhard LLP, or other counsel of your choice, to serve as your counsel in this action.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3.5 billion for its clients. The Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and been listed in The Legal 500 for ten consecutive years.
You can obtain a copy of the complaint by contacting the clerk of the court for the United States District Court for the Northern District of California.
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SOURCE Bernstein Liebhard LLP