Core Viewpoint - A class action lawsuit has been filed against StubHub Holdings, Inc. on behalf of investors who acquired StubHub securities during the specified class period, particularly related to the company's IPO [1][2]. Group 1: Lawsuit Details - The lawsuit claims that StubHub's IPO Registration Statement did not disclose significant changes in the timing of payments to vendors, which affected the company's free cash flow [3]. Group 2: Company Overview - StubHub, headquartered in New York City, is a leading platform for the resale of tickets for various live entertainment events, including sports, concerts, and theater performances [2].

Core Viewpoint - A class action lawsuit has been filed against StubHub Holdings, Inc. for failing to disclose significant changes affecting its cash flow during its IPO period [1][3]. Group 1: Lawsuit Details - The lawsuit represents investors who acquired StubHub securities from September 14, 2025, to November 24, 2025, including shares from the September 2025 IPO [1][2]. - Investors have until January 23, 2026, to seek appointment as lead plaintiff representatives [2]. Group 2: Company Background - StubHub is a major platform for reselling tickets for various live events, including sports, concerts, and theater performances [2]. - The company is headquartered in New York City [2]. Group 3: Legal Firm Information - Berger Montague PC is a leading law firm specializing in complex civil litigation and class actions, with a history of significant recoveries for clients [4]. - The firm has achieved over $2.4 billion in post-trial judgments in 2025 alone and has recovered over $50 billion for clients over its 55-year history [4].

Q3 2025 Performance - Gross Merchandise Sales (GMS) reached $2.4 billion, an 11% year-over-year increase[16] - Excluding the impact of the Eras Tour, GMS growth would have been 24% year-over-year[16] - Revenue totaled $468 million, reflecting an 8% year-over-year growth[18] - Adjusted EBITDA was $67 million, a 21% increase year-over-year, with a 14% margin[19] Strategic Initiatives and Financial Position - Successfully completed an IPO and used the proceeds to pay down $750 million in debt[11] - The debt repayment is projected to save approximately $75 million in annual cash debt service costs[11, 46] - Net leverage decreased to 3.9x post-IPO[46] Market Opportunity and Scale - The company estimates a total addressable market of $194 billion today, with a future potential of $726 billion including adjacent categories[38] - Trailing twelve-month (TTM) GMS reached $9.4 billion[34] - The company has consistently maintained an approximately 20% service fee per transaction[32]