Eventbrite Misled Investors About Ticketfly Merger, Suit Says

Eventbrite Inc. misled investors about the success of its acquisition of Ticketfly LLC in the registration statement it filed as part of its initial public offering, a class action filed April 15 alleges.

The company’s wrongful acts and omissions, coupled with the precipitous decline in the market value of its stock, caused investors to suffer significant losses, the complaint says.

Eventbrite provides a platform to enable creators to plan, promote, and produce live events. In 2017, it acquired Ticketfly from Pandora Media Inc. for $200 million.

The following year, Eventbrite went public. It later disclosed that integrating Ticketfly negatively affected ...