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BOSTON, May 03, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, informs investors that there has been a class action lawsuit filed against Eventbrite, Inc. (“Eventbrite” or the “Company”) (“NYSE: EB”) and certain of its officers alleging violations of the federal securities laws. Shareholders are encouraged to contact Block & Leviton LLP to learn more.
The complaint that was filed in the Northern District of California, and captioned Gomes v. Eventbrite, Inc. et al., 5:19-cv-02019, asserts that the Company misled investors by failing to disclose that the Company's migration of customers from Ticketfly to Eventbrite was progressing slower than expected such that the Company's revenue and growth would be negatively impacted. The Hon. Edward J. Davila is the judge assigned to the case.
On March 7, 2019, post-market, when Eventbrite indicated that its growth rate would be negatively impacted its stock price fell from $32.42 per share on March 7, 2019 to $24.46 per share on March 8, 2019.
Then, on May 1, 2019, the Company’s stock price fell 30% post-market following a weak first quarter earnings report that showed widening losses, lower than expected second-quarter guidance and growth issues tied to their continued focus on integrating.
On May 2, 2019, Eventbrite’s stock fell another 30%.
If you have purchased or otherwise acquired Eventbrite securities between September 20, 2018 and March 7, 2019, and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact Attorney Dan DeMaria at (888) 868-2385, by email at firstname.lastname@example.org, or by visiting http://shareholder.law/eventbrite. Additionally, those interested in serving as lead Plaintiff must apply to do so before the June 14, 2019, lead plaintiff deadline.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
This notice may constitute attorney advertising.
BLOCK & LEVITON LLP
Dan DeMaria, Esq.
(617) 398-5660 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
SOURCE Block & Leviton LLP