![]() Thereafter, Defendants continued to assure investors that Match had revamped the Tinder team and that the new team was successfully executing on the initiatives. On this news, the price of Match common stock declined $13.47 per share, or more than 17%, from a close of $76.71 per share on August 2, 2022, to close at $63.24 per share on August 3, 2022. Specifically, Defendants admitted that "Tinder did not deliver on its product roadmap for the first half of the year," forcing Match to delay the launch of several initiatives and optimizations that it had previously expected to generate growth in 2022. Investors began to learn the truth on August 2, 2022, when Match announced financial results for the second quarter of 2022 and warned that it expected Tinder's growth to slow in the second half of 2022 as the result of poor product execution. ![]() For example, as recently as May 2022, Defendants assured investors that Tinder was "on track" with these product initiatives. ![]() Throughout the Class Period, Defendants continued to represent that Tinder was effectively executing on several critical product initiatives that would drive growth for Match in 2022 and beyond. Defendants further stated that "he interactive and social experiences within Explore are the harbinger for Tinder's long-term vision," and noted that Tinder was working on several other monetization opportunities, such as an in-app virtual currency. In a letter to shareholders, Defendants touted Tinder's "radical product transformation," which included recently launched product initiatives such as a new "Explore" feature. The Class Period begins on November 3, 2021, following Match's announcement of its third quarter 2021 financial results after the market closed on November 2, 2021. Tinder, which generated more than half of Match's revenue during the Class Period, is Match's largest and most important brand. Match's most notable dating apps include Tinder, Hinge, OkCupid, and PlentyOfFish. Match is a technology and social media company that operates one of the world's largest portfolios of online dating brands and apps. ![]() YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: ĬANNOT VIEW THIS VIDEO? PLEASE CLICK HEREĬLASS PERIOD: NOVEMTHROUGH JANUARY 31, 2023ĬONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS: Important Deadline Reminder: Investors who purchased or otherwise acquired Match common stock during the Class Period may, no later than May 5, 2023, move the Court to serve as lead plaintiff for the class.ĬLICK HERE TO SUBMIT YOUR MATCH LOSSES. 1:23-cv-00245-MN, was filed in the United States District Court for the District of Delaware before the Honorable Maryellen Noreika. ("Match") on behalf of investors who purchased or acquired Match (NASDAQ:MTCH) common stock between Novemthrough January 31, 2023, inclusive (the "Class Period"). RADNOR, PA / ACCESSWIRE / Ap/ The law firm of Kessler Topaz Meltzer & Check, LLP informs investors that the firm has filed a securities class action lawsuit against Match Group, Inc. ![]()
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