A lawsuit was filed on behalf of investors in shares of Match Group, Inc. (NASDAQ: MTCH) for alleged violations of securities laws
An investor, who bought shares of Match Group, Inc. (NASDAQ: MTCH), filed suit and alleged violations of federal securities laws by Match Group, Inc. in relation to certain allegedly false and misleading statements made.
Investors who have purchased shares of Match Group, Inc. (NASDAQ: MTCH ) have certain options and, for certain investors, they have short and strict terms. Deadline: May 5, 2023. NASDAQ: MTCH investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
Match Group, Inc., based in Dallas, TX, offers dating products worldwide. On November 3, 2021, Match Group, Inc announced its third quarter 2021 financial results after the market closed on November 2, 2021. In a letter to shareholders, Match Group, Inc touted the “radical transformation of Tinder’s product, which included the recently launched product. initiatives such as a new “Explore” feature. Match Group, Inc. further stated that “[t]The interactive and social experiences within Explore are the harbinger of Tinder’s long-term vision,” noting that Tinder was working on other monetization opportunities, such as an in-app virtual currency.
Then, on August 2, 2022, Match Group, Inc announced Q2 2022 financial results and warned that it expected Tinder’s growth to slow in the second half of 2022 as a result of poor execution of the product. Specifically, Match Group, Inc stated that “Tinder failed to deliver on its product roadmap in the first half of the year,” forcing Match to delay the launch of several initiatives and optimizations that it had previously hoped would generate growth in 2022.
Finally, on January 31, 2023, Match Group, Inc reported its financial results for the year 2022, including previously undisclosed total revenue for Match. Match Group, Inc largely attributed the shortfall to “weaker-than-expected product execution at Tinder, the effects of which became more pronounced as the year progressed.” During an earnings conference call the next day, Match Group, Inc further admitted that Tinder had “slowed down as the year progressed”.
Shares of Match Group, Inc. (NASDAQ: MTCH ) fell from $164.56 per share on November 5, 2021 to $34.62 per share on March 13, 20232.
Plaintiff alleges that between November 3, 2021 and January 31, 2023, Defendants misrepresented and/or failed to disclose that Match was not effectively executing Tinder’s new product initiatives, which resulted in Match not was well on its way to delivering what Tinder expected. product initiatives in 2022, and therefore Defendants’ statements about Match’s business, operations and prospects lacked a reasonable basis.
Those who bought shares of Match Group, Inc. (NASDAQ: MTCH ) have certain options and should contact the Stockholder Foundation.
Contact:
Michael Daniels
Stockholders Foundation, Inc.
3111 Camí del Rio North
Suite 423
San Diego, CA 92108
Phone: +1-(858)-779-1554
Email: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and investor advocacy group, that conducts research related to shareholder matters and informs investors of securities lawsuits, settlements, judgments and other related news the shares financial market. Shareholders Foundation, Inc. it is in contact with a large number of shareholders and offers help, support and assistance to each shareholder. The Shareholders Foundation, Inc. it is not a law firm. Reference cases, investigations and/or agreements are not filed/initiated/arrived at and/or not related to the Shareholder Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
This version was published on openPR.
FAIR-USE COPYRIGHT DISCLAIMER
Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for “fair use” for purposes such as citation, syndication, criticism, commenting, news reporting, teaching, scholarship, and research. Fair use is a use permitted by the copyright statute that might otherwise be infringing. Non-profit, educational, or personal use tips the balance in favor of fair use.
-This article has no negative impact on the original works (It would actually be positive for them).
-This article is also for teaching and inspirational purposes.
– It is not transformative in nature
Source link