Eventbrite Beats Investor Suit Over Ticketfly Integration

Law360 (April 29, 2020, 3:43 PM EDT) -- A California federal judge has dismissed a proposed securities class action alleging Eventbrite concealed a bumpy integration of its Ticketfly acquisition ahead of its 2018 initial public offering, saying investors' "vague allegations" weren't enough to keep the suit alive.

U.S. District Judge Edward Davila granted Eventbrite's bid to dismiss investors' securities fraud suit in its entirety Tuesday but gave the investors a chance to amend their complaint with greater specificity.

"Plaintiffs' vague allegations that the Ticketfly acquisition was 'delayed,' 'costly' and that the integration missed 'key features' are insufficient to show that defendants 'affirmatively' created an impression of a state of...

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