Earlier today Zenimax Online Studios, confirmed on the forums and via twitter post that the Undaunted Celebration scheduled for this weekend has been cancelled. There will not be a replacement and they will focusing their efforts in fixing the issues with the group finder.
Just to give everyone an update, we will not be enabling any additional events this weekend while we concentrate on implementing fixes for the Activity Finder. When we dug into why the issues began yesterday, we uncovered a new problem where certain groups queuing with the Activity Finder were causing significant database load issues. The fixes we’re working on will better distribute the load and impact on the database, and they are currently with QA for testing. We really appreciate everyone’s patience while we troubleshoot these issues, and completely understand how disruptive it’s been for you. Once we receive the testing results from QA, we’ll give everyone another update of our plans on Monday.Gina Bruno, Elder Scrolls Official Forums