Press release
Lawsuit filed for certain investors in shares of Match Group, Inc. (NASDAQ: MTCH)
A lawsuit was filed on behalf of investors in Match Group, Inc. (NASDAQ: MTCH) shares over alleged securities laws violations.
Investors who purchased a significant amount of shares of Match Group, Inc. (NASDAQ: MTCH) between May 2, 2023 and November 6, 2024, and / or those purchased any NASDAQ: MTCH shares prior to May 2023 and continue to hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: January 24, 2025. NASDAQ: MTCH investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Match Group, Inc. reported that its annual Total Revenue rose from over $3.18 billion in 2022 to over $3.36 billion in 2023, and that its Net Income increased from $361.94 million in 2022 to $651.53 million in 2023.
On November 6, 2024, Match released its third quarter 2024 financial results, revealing Tinder Direct revenue coming in below expectations "driven by the under delivery of certain optimizations." Specifically, the Company stated that certain initiatives rolled out in the third quarter "were well received by users but more cannibalistic to subscription revenue than expected" and impacted subscription revenue and will likely also have an impact on fourth quarter revenue.
On November 7, 2024, Investopedia published an article entitled "Match Group Stock Slips as Fourth Quarter Outlook Disappoints." This article said that "[s]hares of online dating giant Match Group tumbled Thursday morning despite a third-quarter earnings beat released after the bell Wednesday. [. . .] Match said Tinder Direct revenue came in below its own expectations, as the app's monthly active users (MAUs) declined 9% from the same time last year and its revenue per payer (RPP) grew less than expected. Some new features tested with Tinder users in the quarter negatively impacted subscription revenue, which the company said will likely also have an impact on fourth quarter revenue."
Shares of Match Group, Inc. (NASDAQ: MTCH) declined from $48.93 per share on July 19, 2023, to $30.06 per share on November 20, 2024.
The plaintiff claims that between May 2, 2023 and November 6, 2024, the , defendants made false and/or misleading statements and/or failed to disclose that Match Group materially understated the challenges affecting Tinder and, as a result, understated the risk that Tinder's monthly active user count would not recover by the time that Match Group reported its financial results for the third quarter of 2024, and that as a result, defendants' statements about Match Group's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times.
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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