Press release
Lawsuit filed for Investors who lost money with shares of Bumble Inc. (NASDAQ: BMBL)
A lawsuit was filed on behalf of investors in Bumble Inc. (NASDAQ: BMBL) shares over alleged securities laws violations.
Investors who purchased shares of Bumble Inc. (NASDAQ: BMBL) have certain options and for certain investors are short and strict deadlines running. Deadline: November 25, 2024. NASDAQ: BMBL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On February 27, 2024 Bumble Inc. reported disappointing fourth quarter fiscal 2023 results despite the recent launch of the Premium Plus subscription tier in December 2022. Bumble's management further announced that the Premium Plus tier would be revamped as part of the planned Bumble app relaunch as it did not have a clear enough market fit at launch and, as a result, Bumble lowered its guidance for full year 2024, according to the complaint.
On August 7, 2024, Bumble Inc. announced its second-quarter results and adjusted guidance for the full year, significantly lowering its revenue growth expectations. The company now anticipates a year-over-year total revenue growth of 1% to 2% for 2024, a sharp decline from the previous forecast of 8% to 11% issued in May.
Shares of Bumble Inc. (NASDAQ: BMBL) declined from $17.10 per share in September 2023 to $4.80 per share on August 08, 2024.
The plaintiff claims that between November 7, 2023 and August 7, 2024, the defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning Bumble's relaunch strategy and that these statements caused investors to purchase Bumble's securities at artificially inflated prices between November 7, 2023 and August 7, 2024.
Those who purchased shares of Bumble Inc. (NASDAQ: BMBL) 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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