According to the Complaint, Match Group Inc. provides dating products under various brand names including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Hinge.

The Complaint 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, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company used fake love interest ads to convince customers to buy and upgrade subscriptions; (2) that the Company made it difficult and confusing for consumers to cancel their subscriptions; (3) that, as a result, the Company was reasonably likely to be subject to regulatory scrutiny; (4) that the Company lacked adequate disclosure controls and procedures; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On January 6, 2020, the Court issued an Order appointing Co-Lead Plaintiffs and Counsel. Co-Lead Plaintiffs filed an amended Complaint on April 14. Defendants filed a Motion to Dismiss the amended Complaint on June 12. On March 26, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint.

Co-Lead Plaintiffs filed a second amended Complaint on April 23, 2021. On May 20, Defendants filed a Motion to Dismiss the second amended Complaint. The Court issued an Order denying Defendants' Motion to Dismiss on November 19.

On February 17, 2022, the Court dismissed one of the Co-Lead Plaintiffs. On August 12, the remaining Co-Lead Plaintiff voluntarily dismissed the case.