Photo Credit: Markus Winkler
StubHub’s CEO is also the managing partner of a ticket broker that has made millions on the platform. To consumers, that revelation spells fraud.
After reports on Friday that StubHub CEO Eric Baker has an ownership stake in ticket broker Andro Capital—which has made millions of dollars listing tickets for sale on the platform—StubHub has been hit with a customer class-action lawsuit.
The complaint was filed on Monday (July 13), following the news on Friday (July 10), which StubHub disclosed to regulators ahead of its initial public offering back in September. It became news last week following a report that detailed the IPO documents.
StubHub told regulators about Baker’s role as a managing partner of Andro Capital prior to the ticketing platform’s $758 million IPO last year. According to regulatory disclosures, Baker’s fund has sold secondary-market tickets on the platform since 2008 and generated over $5 million in proceeds since 2022. Notably, Andro Capital’s affiliate, Colloquy Capital, also has a referral agreement in place with StubHub.
The lawsuit, headed by class representative Louis Sanquini, alleges that while StubHub provided this information to regulators, it did not publicly disclose it to its customers. Instead, StubHub has long advertised itself as a platform that “connects independent buyers and sellers.”
“Plaintiff and members of the proposed class purchased tickets on StubHub believing they were buying from individual fans through a neutral marketplace, when in fact StubHub’s own leadership has a direct financial stake in, and StubHub itself helps finance, the large-scale resale operation that supply much of the platform’s inventory,” the lawsuit reads. “Defendants’ failure to disclose this conflict of interest, while affirmatively marketing StubHub as a fan-to-fan marketplace, deceived plaintiff.”
Sanquini’s lawsuit aims to represent a nationwide class of fans who bought tickets on StubHub without knowing the company’s CEO’s financial stake in a major broker. The filing seeks financial damages for alleged fraud, unjust enrichment, and violations of consumer protection laws.
“If companies make representations to the public, consumers are entitled to expect that those representations are complete and accurate,” said Sanquini’s lawyer, Keven Steinberg. “Consumers deserve honesty and transparency when they make event purchasing decisions, particularly on platforms that market themselves as ‘neutral marketplaces.’ We believe the facts will demonstrate that these issues warrant careful judicial scrutiny, and we intend to prosecute the case aggressively on behalf of the proposed class.”
In September 2025, StubHub went public on the New York Stock Exchange, but its stock price has quickly declined, leading investors to sue the company for allegedly obfuscating cash flow issues ahead of the IPO. StubHub has denied those claims.
