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NEW YORK--(BUSINESS WIRE)--Nov 25, 2024--
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Match Group, Inc. (“Match” or the “Company”) (NASDAQ: MTCH) and reminds investors of the January 24, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing 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.
On November 7, 2024, Investopedia published an article entitled “Match Group Stock Slips as Fourth Quarter Outlook Disappoints.” This article said that “[s]hares of online dating giant Match Group tumbled Thursday morning despite a third-quarter earnings beat released after the bell Wednesday. [. . .] Match said Tinder Direct revenue came in below its own expectations, as the app’s monthly active users (MAUs) declined 9% from the same time last year and its revenue per payer (RPP) grew less than expected. Some new features tested with Tinder users in the quarter negatively impacted subscription revenue, which the company said will likely also have an impact on fourth quarter revenue.”
On this news, the price of Match Group stock fell by 17.8% to close at $31.11 per share on November 7, 2024.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Match’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Match class action, go to www.faruqilaw.com/MTCH or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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View source version on businesswire.com:https://www.businesswire.com/news/home/20241125567768/en/
CONTACT: Josh Wilson
877-247-4292 or 212-983-9330 (Ext. 1310)
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL
SOURCE: Faruqi & Faruqi, LLP
Copyright Business Wire 2024.
PUB: 11/25/2024 03:38 PM/DISC: 11/25/2024 03:36 PM
http://www.businesswire.com/news/home/20241125567768/en