The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired StubHub Holdings, Inc. (“StubHub” or the “Company”) (NYSE: STUB) securities pursuant to the registration statement and prospectus (collectively “offering documents”) issued in connection with the Company’s September 2025 initial public offering (“IPO”).

If you suffered a loss on your StubHub investments, you have until January 23, 2026 to request lead plaintiff appointment. For more information:

[CONTACT THE FIRM IF YOU SUFFERED A LOSS]

What Is This Lawsuit About? The lawsuit alleges that, in connection with its IPO, StubHub failed to disclose to investors that: (1) the Company was experiencing changes in the timing of payments to vendors; (2) those changes had a significant adverse impact on free cash flow, including trailing 12 months free cash flow; (3) as a result, the Company’s free cash flow reports were materially misleading and (4) that, as a result of the foregoing, the IPO offering documents were materially misleading.

On November 13, 2025, the Company released its first earnings since its September 2025 IPO, revealing a free cash flow of negative $4.6 million in the third quarter of 2025, a 143% decrease from the Company’s free cash flow in the year ago period, which was positive $10.6 million. On this news, the price of StubHub shares declined by $3.95 per share, or approximately 21.0%, from $18.82 per share on November 13, 2025 to close at $14.87 on November 14, 2025.

By November 24, 2025, StubHub’s stock price had fallen to $12.01, nearly 50% below the IPO price of $23.50 per share.

[LEARN MORE ABOUT THE LAWSUIT]

The Lead Plaintiff Appointment Process. The federal securities laws permit any investor who acquired eligible securities during the class period to seek appointment as lead plaintiff in a class action lawsuit. Courts typically appoint the investor(s) with the largest financial loss in the case and the ability to represent the class rather than investors with simply the largest investment portfolio. Courts regularly appoint individual investors, whether acting alone or as a group, as lead plaintiffs. The rights of any investor who bought shares during the class period are generally already protected. However, lead plaintiffs have the power to influence case strategy and have a say in settlement decisions, as well as decisions concerning allocation of settlement funds among class members.

[LEARN MORE ABOUT THE LEAD PLAINTIFF PROCESS]

What Should I Do? If you purchased or otherwise acquired StubHub securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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