Cotchett, Pitre & McCarthy LLP and Bottini & Bottini, Inc. Announce Class Action Settlement Involving Purchasers of Eventbrite Common Stock

REDWOOD CITY, Calif., Dec. 3, 2021 /PRNewswire/ -- 

SUPERIOR COURT OF THE STATE OF CALIFORNIACOUNTY OF SAN MATEO

IN RE EVENTBRITE, INC. SHAREHOLDER LITIGATION

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Lead Case No. 19CIV02798 (consolidated with Case Nos. 19CIV02911 and 19CIV04924)   Class Action   Summary Notice of Proposed Settlement of Class Action   Date Action Filed: May 24, 2019

TO:   All persons who acquired EVENTBRITE, INC. ("EVENTBRITE" OR THE "COMPANY") CLASS A COMMON STOCK BETWEEN SEPTEMBER 20, 2018, AND MAY 24, 2019, INCLUSIVE.

THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT A LAWYER SOLICITATION.  PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on March 18, 2022, at 2:00 p.m., before the Honorable Robert D. Foiles at the Superior Court of California, County of San Mateo, Department 21, 400 County Center, Redwood City, CA 94063, to determine whether: (1) the proposed settlement ("Settlement") of the above-captioned action as set forth in the Stipulation and Agreement of Settlement dated October 26, 2021 ("Stipulation")¹ for $19,250,000.00 in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Judgment as provided under the Stipulation should be entered; (3) to award Plaintiffs' Counsel the Fee and Expense Award out of the Settlement Fund (as defined in the Notice of Proposed Settlement of Class Action ("Notice"), which is discussed below) and, if so, in what amount; (4) to pay Plaintiffs service awards for representing the Class out of the Settlement Fund and, if so, in what amount; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable, and adequate.

This Action is a consolidated securities class action brought on behalf of all persons who purchased or acquired Eventbrite Class A common stock pursuant or traceable to the registration statement and prospectus issued in connection with Eventbrite's initial public offering ("IPO"), against Eventbrite, certain of its current and/or former officers and directors, the underwriters of the IPO, and certain venture capital defendants (collectively, "Defendants") for, among other things, allegedly misstating and omitting material facts from the registration statement and prospectus filed in connection with Eventbrite's September 2018 IPO.  Plaintiffs allege that these purportedly false and misleading statements resulted in damage to Class Members when the truth was revealed.  Defendants deny all of Plaintiffs' allegations.

IF YOU ACQUIRED EVENTBRITE CLASS A COMMON STOCK BETWEEN SEPTEMBER 20, 2018, AND MAY 24, 2019, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS ACTION.

To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form ("Proof of Claim") by mail (postmarked no later than February 24, 2022) or electronically at www.EventbriteClassAction.com (no later than February 24, 2022).  Your failure to timely submit your Proof of Claim will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of this Action.  If you are a member of the Class and do not request exclusion therefrom, you will be bound by the Settlement and any judgment and releases entered in the Action, whether or not you submit a Proof of Claim.

If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), and a Proof of Claim, you may obtain these documents, as well as a copy of the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice) and other settlement documents online at www.EventbriteClassAction.com or by writing to:

Eventbrite, Inc. Securities Litigation Settlement
PO Box 6399
Portland, OR 97228-6399
E-mail: [e-mail]
Telephone: [phone]
www.EventbriteClassAction.com

Inquiries should NOT be directed to Defendants, Defendants' Counsel, the Court, or the Clerk of the Court.

Inquiries, other than requests for the Notice or for a Proof of Claim, may be made to Class Counsel:

COTCHETT, PITRE & MCCARTHY LLP
Mark C. Molumphy
Tyson Redenbarger
840 Malcolm Road, Suite 200
Burlingame, CA 94010
Telephone: [phone]

BOTTINI & BOTTINI, INC.
Francis A. Bottini, Jr.
Yury A. Kolesnikov
7817 Ivanhoe Avenue, Suite 102
La Jolla, CA 92037
Telephone: [phone]

IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED BY JANUARY 25, 2022, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.  ALL MEMBERS OF THE CLASS WHO HAVE NOT REQUESTED EXCLUSION FROM THE CLASS WILL BE BOUND BY THE SETTLEMENT EVEN IF THEY DO NOT SUBMIT A TIMELY PROOF OF CLAIM.

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY PLAINTIFFS' COUNSEL FOR THE FEE AND EXPENSE AWARD, AND/OR THE PAYMENT OF SERVICE AWARDS TO PLAINTIFFS FOR REPRESENTING THE CLASS.  ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO CLASS COUNSEL AND DEFENDANTS' COUNSEL BYJANUARY 25, 2022, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

DATED:  NOVEMBER 5, 2021

BY ORDER OF THE SUPERIOR COURT OF
CALIFORNIA, COUNTY OF SAN MATEO

URL// www.EventbriteClassAction.com

¹ The Stipulation can be viewed and/or downloaded at www.EventbriteClassAction.com.  All capitalized terms used herein have the same meaning as set forth in the Stipulation.

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SOURCE Cotchett, Pitre & McCarthy LLP and Bottini & Bottini, Inc.