StubHub's 'marketplace for fans' is run by a mass scalper, SEC filings reveal
Buyer of soccer, Kiss concert tickets claims he was misled by StubHub
StubHub and its CEO, Eric Baker, have been hit with a proposed $5-million class-action lawsuit in the United States over the company's ties to large-scale scalpers — connections reported by CBC News last week.
The suit, filed Monday by New York ticket buyer Louis Sanquini, alleges deceptive practices and fraudulent misrepresentation over StubHub's promoting itself as a "marketplace for fans to buy and sell tickets."
The online ticket resale giant has faced a storm of customer complaints after cancelling thousands of World Cup tickets. The company has repeatedly said it is simply a technology platform that does not buy, sell or possess tickets.
However, CBC reported last week that Baker disclosed in recent filings with the U.S. Securities and Exchange Commission that he runs Andro Capital, a hedge fund that engages in large-scale resale of millions of dollars' worth of sports and concert tickets on the StubHub resale platform.
StubHub's 'marketplace for fans' is run by a mass scalper, SEC filings reveal