Grabar Law Office is investigating claims on behalf of shareholders of StubHub Holdings, Inc. (NYSE: STUB). The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.

StubHub operates the largest global ticketing marketplace for live events. Consumers can purchase tickets through the StubHub website, a separate online marketplace called Viagogo focused on regions outside of the United States, and mobile applications. On September 17, 2025, the Company’s filed its prospectus on Form 424B4 (the “Form 424B4”) with the SEC in connection with its Initial Public Offering (“IPO”)

As alleged in a recently filed federal securities fraud class action complaint, StubHub (NYSE: STUB), through certain of its officers, either made or caused the Company to make false and misleading statements regarding the Company’s free cash flow.

For example, the Form 424B4 stated that the Company’s Trailing Twelve Month (“TTM”) free cash flow was less impacted by seasonality and seller payments, stating, in relevant part, that “TTM free cash flow provides a longer-term view of our business that is less impacted by the seasonality of GMS and seller payments.”

The truth emerged on November 13, 2025, when StubHub issued a press release reporting its financial results for the third quarter of 2025. The 3Q 2025 Earnings Press Release revealed free cash flow of negative $4.6 million for the third quarter of 2025, representing a 143% decrease from the Company’s free cash flow in the third quarter of 2024.

It is alleged that certain of StubHub’s officers, in breach of their fiduciary duties owed to StubHub, willfully or recklessly made and/or caused the Company to make false and misleading statements that failed to disclose that: (1) StubHub’s vendors were changing the timing for their payments; (2) StubHub’s free cash flow was severely impacted by these timing changes; and (3) as a result, the Company’s free cash flow reports were materially misleading. As a result of the foregoing, the Company’s public statements were materially false and misleading at all relevant times.

Additionally, it is alleged that certain of StubHub’s officers willfully or recklessly caused the Company to fail to maintain adequate internal controls while three of the Individual Defendants engaged in improper insider sales, netting total proceeds of approximately $632,452.

WHAT YOU CAN DO NOW: If you purchased StubHub Holdings, Inc. (NYSE: STUB), shares on or near the Company’s September 17, 2025 IPO, and still hold shares today, you are encouraged to contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085.  You can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever.