Partner Reed Kathrein: IPO Prospectus Scrutiny Centers on Alleged Concealment of Adverse Vendor Payment Trends

SAN FRANCISCO, Dec. 3, 2025 /PRNewswire/ -- National shareholder rights law firm Hagens Berman reminds investors that the deadline to move the Court for appointment as lead plaintiff in the securities class action lawsuit against StubHub Holdings, Inc. (NYSE: STUB) is January 23, 2026.

The lawsuit is filed on behalf of investors who purchased shares traceable to the September 2025 Initial Public Offering (IPO). The complaint alleges that StubHub's Registration Statement and Prospectus were materially misleading by failing to disclose crucial "known trends, events, or uncertainties" that were already adversely impacting the company's Free Cash Flow (FCF)—a key metric touted to investors.

"The drop from a positive Free Cash Flow to a negative $4.6 million FCF is a staggering 143% decline that the complaint alleges should have been disclosed to IPO investors as a known trend," said Reed Kathrein, the Hagens Berman partner leading the litigation. "We are specifically focused on the alleged concealment of adverse changes in the timing of payments to vendors, which may have artificially inflated the company's liquidity picture just weeks before the truth was revealed. We urge investors in StubHub who purchased or otherwise acquired company shares pursuant to the IPO to contact the firm now."

Legal Analysis: The Free Cash Flow & IPO Disclosure Gap

The complaint focuses on the alleged misrepresentations within the core offering documents, which led to a substantial loss of market capitalization:

Next Steps: Contact Partner Reed Kathrein Today

Hagens Berman has a proven track record, securing over $325 billion in settlements for investors and consumers.

Mr. Kathrein and firm's investor fraud team are actively advising investors who purchased STUB shares pursuant and/or traceable to the IPO and suffered significant losses due to the alleged undisclosed financial trends.

The Lead Plaintiff Deadline is January 23, 2026.

TO SUBMIT YOUR STUBHUB (STUB) FREE CASH FLOW LOSSES NOW, PLEASE USE THE SECURE FORM BELOW:

• Submit Your StubHub (STUB) IPO Losses

If you'd like answers to frequently asked questions about the StubHub case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding StubHub should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email STUB@hbsslaw.com.

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

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SOURCE Hagens Berman Sobol Shapiro LLP