StubHub (STUB) IPO Claims Under Scrutiny Following Post-Earnings Slide and UK Probe -- Hagens Berman

SAN FRANCISCO - Hagens Berman has commenced an investigation into StubHub Holdings, Inc. (NYSE: STUB) focusing on the accuracy of statements made in its Initial Public Offering (IPO) documents, specifically concerning its market opportunity and regulatory exposure to the U.K.'s Competition and Markets Authority (CMA).

The firm urges investors in StubHub who purchased or otherwise acquired company shares pursuant to the IPO or on the open market to submit your losses now. The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys.

Visit: www.hbsslaw.com/investor-fraud/stub

Contact the Firm Now: STUB@hbsslaw.com, 844-916-0895

Lofty Growth Projections

StubHub’s IPO materials heavily emphasized a “major growth opportunity” within the “secondary ticketing alone” sector. The company sought to assure potential investors with promises of “Growth and Liquidity Flywheels” that, the documents claimed, had been instrumental in establishing and extending its “leadership position in the global secondary ticketing market while generating significant growth and profitability.” These representations formed a key part of the investment thesis presented to the market.

Investor Disappointment and Share Price Plunge

The narrative began to unravel following the close of business on November 13, 2025:

• StubHub released its Q3 2025 financial results and notably withheld Q4 2025 guidance.

• Crucially, the company's CFO stated that “[f]rom the outset, we anticipated that 2025 would present a more challenging growth environment for our market.”

The news immediately triggered a major reaction, driving the price of StubHub shares down approximately 20% in the subsequent trading session.

Regulatory Focus Intensifies

Investor confidence was dealt a second blow days later, on November 18, 2025.

• The U.K.’s CMA formally announced it had opened an investigation into StubHub.

• The probe centers on price transparency, specifically “regarding the mandatory additional charges applied when consumers buy tickets – and whether or not these fees are included upfront.”

• The CMA noted that this action is part of a "major cross-economy review of more than 400 businesses in 19 different sectors to assess compliance with rules on price transparency" being conducted since April.

The regulatory announcement exacerbated the market's concerns, causing StubHub's stock to slide by an additional 9% the following day, further intensifying the pressure on management to reconcile pre-IPO optimism with post-IPO reality.

Hagens Berman’s Investigation

In response to the precipitous decline in share value and questions surrounding the IPO disclosures and subsequent financial performance, prominent shareholder rights firm Hagens Berman is conducting an investigation into potential violations of the U.S. securities laws. The firm’s probe is focused on whether StubHub and certain officers may have made misleading statements or failed to disclose material information regarding its growth prospects and regulatory risks, particularly those posed by the CMA.

Reed Kathrein, the Hagens Berman partner leading the firm's investigation, commented on the situation, stating: “We’re focused on whether StubHub’s IPO materials may have misled investors about its market opportunity and the scope of its regulatory scrutiny before and after its IPO.”

If you invested in StubHub and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the StubHub 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.

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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.