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Lawsuit filed for Investors who lost money with shares of Match Group, Inc. (NASDAQ: MTCH)

03-16-2023 01:51 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Match Group, Inc. (NASDAQ: MTCH) shares over alleged securities laws violations

A lawsuit was filed on behalf of investors in Match Group, Inc. (NASDAQ: MTCH) shares over alleged securities laws violations

An investor, who purchased shares of Match Group, Inc. (NASDAQ: MTCH), filed a lawsuit i over alleged violations of Federal Securities Laws by Match Group, Inc. in connection with certain allegedly false and misleading statements made.

Investors who purchased shares of Match Group, Inc. (NASDAQ: MTCH) have certain options and for certain investors are short and strict deadlines running. Deadline: MAY 5, 2023. NASDAQ: MTCH investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Dallas, TX based Match Group, Inc. provides 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 Tinder's "radical product transformation," which included recently launched product initiatives such as a new "Explore" feature. Match Group, Inc further stated that "[t]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.
Then August 2, 2022, Match Group, Inc 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. Specifically, Match Group, Inc stated 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.
Finally, on January 31, 2023, Match Group, Inc reported its financial results for 2022, including total revenue that missed Match's prior guidance. 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 following day, Match Group, Inc further admitted that Tinder had "decelerated as the year went on."

Shares of Match Group, Inc. (NASDAQ: MTCH) declined from $164.56 per share on November 05, 2021, to as low as $34.62 per share on March 13, 20232.

The plaintiff claims that between November 3, 2021 and January 31, 2023, the Defendants misrepresented and/or failed to disclose that Match was not effectively executing on Tinder's new product initiatives, that as a result, Match was not on track to deliver Tinder's planned product initiatives in 2022, and that therefore, Defendants' statements about Match's business, operations, and prospects lacked a reasonable basis.

Those who purchased shares of Match Group, Inc. (NASDAQ: MTCH) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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