StubHub Holdings Inc.‘s initial public offering paperwork misrepresented its free cash flow, leading to a stock decline after its third-quarter financial results were announced, an investor’s proposed class action said.
The registration statement and prospectus should’ve clearly stated StubHub faced changes in the timing of payments to vendors and that was hindering that financial metric, said the investor’s complaint filed Monday in the US District Court for the Southern District of New York.
The online ticket marketplace’s stock price plunged 21% to close at $14.87 a share Nov. 14, the day after it reported quarterly financial results for the ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.