StubHub Faces Post-IPO Securities Suits as Firms Rally Investors Ahead of Jan. 23 Deadline

Investor actions center on alleged omissions in the IPO filings about cash flow pressures linked to vendor payment timing.

Overview

At least one class action, Salabaj v. StubHub Holdings, Inc. (No. 25-cv-09776, S.D.N.Y.), accuses the company, certain executives, directors, and IPO underwriters of Securities Act violations.
StubHub’s Q3 2025 update reported free cash flow of negative $4.6 million and just $3.8 million in net cash from operating activities, with the 10-Q attributing declines primarily to the timing of payments to vendors.
The stock fell 20.9% to $14.87 on Nov. 14 following the Q3 disclosures and was later reported trading as low as $10.31, nearly 56% below the $23.50 IPO price.
Robbins Geller, Rosen, Pomerantz, Robbins LLP, Holzer & Holzer, and others are soliciting investors to join or seek lead-plaintiff status, with a frequently cited deadline of Jan. 23, 2026.
Hagens Berman on Nov. 26 announced an investigation tied to the IPO disclosures and invited investors who bought in the Sept. 17–Nov. 24 period to submit losses.