Eventbrite investors settle lawsuit over shares drop
Shareholders negotiate a US$1.9 million settlement in lieu of a better pay-out down the line, due to impact of Covid-19
News By IQ | 12 August 2020
Aggrieved Eventbrite investors have agreed to settle a lawsuit they filed against the ticketing company, given the current issues facing the live entertainment sector due to Covid-19.
Last year, the shareholders alleged that the company made misleading statements at the time of the company’s initial public offering (IPO) in September 2018, following the impact of the Ticketfly integration and subsequent decline in Eventbrite stock.
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The lawsuit alleged that Eventbrite misled potential buyers in its IPO registration statement which declared that …
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