StubHub Investors Face Jan. 23 Lead-Plaintiff Deadline in IPO Disclosure Lawsuits

Plaintiffs contend the offering documents omitted vendor-payment timing problems that undermined cash generation.

Overview

Multiple national law firms have announced filings or investigations and are urging purchasers in the September 2025 IPO to seek lead-plaintiff status by January 23, 2026.
Cases are pending in the Southern District of New York, including Salabaj v. StubHub Holdings, Inc., No. 25-cv-09776, alleging Securities Act violations.
The complaints assert StubHub failed to disclose shifts in the timing of payments to vendors that materially depressed free cash flow, including trailing 12 months figures.
On November 13, 2025, StubHub reported free cash flow of negative $4.6 million and net cash from operations of $3.8 million, attributing the decline primarily to payment-timing changes.
Following the disclosure, the shares fell about 20.9% to $14.87 on November 14, 2025, and later traded as low as $10.31, roughly 56% below the $23.50 IPO price.