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Match Group, Inc.

Company NameMatch Group, Inc.
Stock SymbolMTCH
Class PeriodMay 02, 2023 to November 06, 2024
Lead Plaintiff Motion DeadlineJanuary 24, 2025

On November 6, 2024, Match Group 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 this news, Match’s stock price fell $6.77, or 17.8%, to close at $31.11 per share on November 7, 2024, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) 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 the Company reported its financial results for the third quarter of 2024; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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