A securities class action has been filed in the USDC — C.D.CA. against Match Group, Inc. (MTCH) (“Match Group” or the “Company”), on behalf of all those that purchased or otherwise acquired Match Group securities publicly traded on NASDAQ between May 2, 2023, and November 6, 2024, both dates inclusive (the “Class Period”).
Match Group describes itself as follows: Match Group, Inc., through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections. Our global portfolio of brands includes Tinder®, Hinge®, Match®, Meetic®, OkCupid®, Pairs™, Plenty Of Fish®, Azar®, BLK®, and more, each built to increase our users’ likelihood of connecting with others. Through our trusted brands, we provide tailored services to meet the varying preferences of our users.
The claim arises on November 6, 2024, when Match Group published its Q3 2024 shareholder letter.
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that:
(1) Match Group materially understated the challenges affecting Tinder and, as a result, understated the risk that Tinder’s monthly active user count would not recover by the time the Company reported its financial results for the third quarter of 2024; and
(2) as a result, defendants’ statements about Match Group’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times., thereby harming investors.
On this news, the price of Match stock fell by $6.77 per share, or 17.8%, to close at $31.11 per share on November 7, 2024.
If you purchased Match Group 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.