A securities class action has been filed in the USDC — W.D.TX. against Bumble Inc. (BMBL) (“Bumble” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired Bumble securities between November 7, 2023 and November 7, 2024, both dates inclusive (the “Class Period”).
Bumble is an American company, launched in 2014, which purports to be a dating app (the “Bumble App”), and proclaims to be one of the first dating apps built with women at the center, where women make the first move. Bumble App claims to be a leader in the online dating sector across several countries, including the United States, the United Kingdom, Australia and Canada. As of the year ended December 31, 2023, the Bumble App had approximately 2.5 million Bumble App paying users. In addition to the Bumble App, Bumble owns a suite of other apps, including Badoo, Fruitz, Bumble BFF, and Official. These apps include a variety of different intention-based dating algorithms and platforms, providing users with unique online dating strategies.
The complaint alleges defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning Bumble’s relaunch strategy, including: Premium Plus and base tiers, focused engagement and more personalized experiences for younger users, and enhancing premium offerings for paid subscription members. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Bumble’s securities at artificially inflated prices, thereby harming investors.
If you purchased Bumble securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.
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Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.