While returning works well enough to prevent the default submit action, I would suggest calling event.preventDefault(). Simply call it first thing to prevent the user agent's default handling of that eventType. It's arguably the more modern way of doing this.
This of course assumes you have a reference to the event, which will be the first argument to your handler function or your EventListener object's handleEvent method so long as you provide a parameter for it.
It's just another tool to have in your toolbox, it also pairs nicely with event.stopPropagation, for when you don't want to stop the default but just want to stop event distribution.