Settling Eventbrite Investors Say Virus Hurts Recovery Odds

Law360 (August 10, 2020, 5:20 PM EDT) -- Eventbrite investors told a California federal judge they reached a $1.9 million settlement deal with the digital event management company, saying it seemed prudent to end their securities fraud suit amid a pandemic that makes large-scale, in-person events dangerous to hold.

In a motion filed Friday, individual investors Michael Gomes, Melvin Pastores and Mohit Uppal, who are co-lead plaintiffs in the consolidated proposed securities class action, and an additional named plaintiff, Bruce Boned, asked U.S. District Judge Edward J. Davila to grant preliminary approval to the proposed settlement deal, saying the impact of the pandemic on Eventbrite didn't bode well for...

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