#United States #New York #Match Group #securities lawsuit #Faruqi & Faruqi

Investor Alert: Class Action Lawsuit Against Match Group

Faruqi & Faruqi, LLP, recognized as a leading national securities law firm, is currently investigating potential claims against Match Group, Inc. This notice serves to remind investors of Match Group, particularly those who may have incurred losses exceeding $50,000 between May 2, 2023, and November 6, 2024, about a crucial deadline related to a federal securities class action lawsuit. The deadline for investors to apply for the role of lead plaintiff is set for January 24, 2025.

Background of the Lawsuit

The complaint filed against Match Group and its executives raises serious allegations regarding violations of federal securities laws. It asserts that the company significantly downplayed the challenges faced by its flagship product, Tinder. This misrepresentation led investors to erroneously believe that Tinder's monthly active user count would rebound by the third quarter of 2024.

On November 7, 2024, following a disappointing financial forecast, Match Group's stock price plummeted by 17.8%, closing at $31.11 per share. The company’s report indicated that Tinder’s Direct revenue fell short of expectations, driven by a 9% decline in monthly active users compared to the previous year. This decline in user engagement is largely attributed to new features that negatively affected subscription revenue.

The Role of Lead Plaintiff

The lead plaintiff in a class action lawsuit is typically the investor with the most substantial financial stake in the case and who is capable of directing the litigation effectively on behalf of the class. Anyone who qualifies as a member of the putative class has the right to file a motion to serve as the lead plaintiff. Importantly, whether one chooses to take on this role does not affect their eligibility to receive any financial recovery from the lawsuit.

Faruqi & Faruqi encourages all potential investors affected by Match Group’s conduct to reach out, especially those with helpful information, including whistleblowers and former employees. This collaborative approach is vital in facilitating a well-informed and robust legal challenge against the company.

Next Steps for Investors

For those who have experienced financial losses and are considering legal action, contacting Faruqi & Faruqi is strongly advised. Investors can directly connect with attorney Josh Wilson by calling 877-247-4292 or 212-983-9330, ext. 1310, for guidance and to discuss their options further.

Additionally, more information about this class action lawsuit against Match Group can be found on the firm’s website at www.faruqilaw.com/MTCH.

Faruqi & Faruqi, founded in 1995, has successfully recovered hundreds of millions of dollars for investors, making them a trusted ally for those seeking justice in the arena of securities law.

Conclusion

As the lead plaintiff deadline approaches, affected investors are encouraged to act promptly. The outcome of this pending litigation could have significant implications not only for Match Group's future but also for the investors who have placed their faith in its continued success. Staying informed about legal rights and options is critical in navigating this challenging situation.