Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson encourages investors who have suffered losses greater than $50,000 to contact him directly to discuss their options
If you suffered losses greater than $50,000 Match between May 2, 2023 and November 6, 2024 and would like to discuss your legal rights, call partner Faruqi & Faruqi Josh Wilson directly has 877-247-4292 Or 212-983-9330 (ext. 1310).
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New York, New York–(Newsfile Corp. – January 11, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating possible claims against Match Group (NASDAQ:), Inc. (“Match” or the “Company”) (NASDAQ: MTCH) and reminds investors of the Deadline January 24, 2025 to seek lead plaintiff status in a federal securities class action lawsuit 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 company has raised 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 officers violated the federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Match Group materially under -estimated the challenges affecting Tinder and, therefore, underestimated the risk that Tinder’s monthly active user numbers 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 regarding 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 titled “Match Group Stock Slips as Fourth Quarter Outlook Disappoints.” This article said that “[s]Online dating giant Match Group’s stocks fell Thursday morning despite third-quarter results released after the bell on Wednesday. [. . .] Match said Tinder Direct’s revenue fell short of its own expectations, with the app’s monthly active users (MAU) down 9% compared to the same period last year and its revenue per payer (RPP) having increased less than expected. Some new features tested with Tinder users during the quarter negatively impacted subscription revenue, which the company says will likely impact fourth-quarter revenue as well.
Following this news, Match Group’s stock price fell 17.8% to close at $31.11 per share on November 7, 2024.
The court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class, who is adequate and typical of the class members directing and overseeing the litigation on behalf of the putative class. Any putative class member may move to the court to serve as lead plaintiff through an attorney of their choice, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by whether you serve as lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Match’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Lawyer advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome for any future questions. We are happy to discuss your specific case. All communications will be treated confidentially.
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