It should be something like below
function mymodule_civicrm_validateForm($formName, &$fields, &$files, &$form, &$errors) {
if ('CRM_Event_Form_ManageEvent_EventInfo' == $formName) {
if ( validation condition fails )
$errors['custom_element'] = ts('Validation message');
}
}
}
HTH
Pradeep