According to the Complaint, Match Group, Inc., through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections. Match Group's global portfolio of brands includes Tinder®, Hinge®, Match®, Meetic®, OkCupid®, Pairs™, Plenty Of Fish®, Azar®, BLK®, and more. This lawsuit was filed against the Company and two of its Officers.

Pertinent to this action is the Company’s Tinder app. After instituting policies which led to the removal of at least two million Tinder users, which in part contributed to the number of monthly active users declining, the Company assured the market that it was on a path to positive MAU growth on the Tinder app.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose 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 that Match Group reported its financial results for the third quarter of 2024; and (2) 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.