StubHub IPO Suits Advance as Investor Firms Press Jan. 23 Lead-Plaintiff Deadline
Plaintiffs say offering materials hid cash‑flow pressures tied to vendor payment timing.
Overview
- Glancy Prongay & Murray and The Rosen Law Firm are urging IPO purchasers to seek lead‑plaintiff status by January 23, 2026.
- A class action styled Salabaj v. StubHub Holdings, Inc., No. 1:25-cv-09776 (S.D.N.Y.), has been filed, and Hagens Berman says it is investigating claims tied to purchases from September 17 to November 24, 2025 after an offering of about 34 million shares at $23.50.
- The complaints allege the registration statement omitted that changes in the timing of payments to vendors significantly hurt free cash flow, including trailing‑12‑month figures.
- On November 13, StubHub reported Q3 2025 free cash flow of negative $4.6 million and $3.8 million in net cash from operations, attributing the decline to vendor‑payment timing and withholding Q4 guidance.
- Following the disclosure, the stock fell 20.9% to $14.87 on November 14 and later traded as low as $10.31, and no class has been certified with allegations unproven.