NEW YORK, NY / ACCESSWIRE / June 20, 2019 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Eventbrite, Inc. ("Eventbrite" or the "Company") (NYSE: EB). Investors who purchased Eventbrite securities pursuant or traceable to its September 20, 2018 Initial Public Offering ("IPO"), are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/eb.
The investigation concerns whether Eventbriteand certain of its officers and/or directors have violated federal securities laws.
In September 2017, Eventbrite acquired Ticketfly, LLC ("Ticketfly") from Pandora Media, Inc. for $201.1 million, purportedly to expand Eventbrite's solutions for music-related events. On September 20, 2018, the Company filed a prospectus on Form 424B4 with the U.S. Securities and Exchange Commission, which forms part of the registration statement issued in connection with the Company's initial public offering ("IPO"). In the IPO, Eventbrite sold 11.5 million shares of Class A common stock at a price of $23.00 per share, raising proceeds of approximately $246 million, net of underwriting discounts and commissions. The proceeds from the IPO were purportedly to be used to repay certain debts, including $30 million of indebtedness incurred to finance the Company's acquisition of Ticketfly, and for working capital and other general corporate purposes.
Then, on March 7, 2019, in connection with its full year 2018 results, the Company stated that integrating Ticketfly would be a headwind impacting the Company's future growth and revenue. On this news, Eventbrite's stock price fell $7.96 per share, or 24.55%, to close at $24.46 per share on March 8, 2019.
If you are aware of any facts relating to this investigation, or purchased Eventbrite shares pursuant or traceable to its IPO,you can assist this investigation by visiting the firm's site: www.bgandg.com/eb. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC