Match Group, Inc. Class Action Lawsuit - MTCH

44 days left to seek lead plaintiff status

Case Summary

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The Match Group class action lawsuit seeks to represent purchasers or acquirers of Match Group, Inc. (NASDAQ: MTCH) common stock between November 3, 2021 and January 31, 2023, inclusive (the “Class Period”).  Captioned Bardaji v. Match Group, Inc., No. 23-cv-00245 (D. Del.), the Match Group class action lawsuit charges Match Group and certain of Match Group’s top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Match Group class action lawsuit, please provide your information in the form on this page.  You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.  Lead plaintiff motions for the Match Group class action lawsuit must be filed with the court no later than May 5, 2023.

CASE ALLEGATIONS: Match Group is a technology and social media company that operates a portfolio of online dating brands and apps.  Tinder, which generated more than half of Match Group’s revenue during the Class Period, is Match Group’s largest and most important brand. 

The Match Group class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Match Group was not effectively executing on Tinder’s new product initiatives; and (ii) as a result, Match Group was not on track to deliver Tinder’s planned product initiatives in 2022. 

On August 2, 2022, Match Group 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 admitted that “Tinder did not deliver on its product roadmap for the first half of the year,” forcing Match Group to delay the launch of several initiatives and optimizations that Match Group had previously expected to generate growth in 2022.  On this news, the price of Match Group common stock declined more than 17%.

Then, on January 31, 2023, Match Group reported disappointing financial results for 2022, including total revenue that missed Match Group’s prior guidance.  Match Group largely attributed the shortfall to “weaker-than-expected product execution at Tinder, the effects of which became more pronounced as the year progressed.”  On this news, the price of Match Group common stock declined more than 5%, further damaging investors.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Match Group common stock during the Class Period to seek appointment as lead plaintiff of the Match Group class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the Match Group class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the Match Group class action lawsuit.  An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Match Group class action lawsuit.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases.  The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list.  And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm.  With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.

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