James (Josh) Wilson, Litigation Partner at Faruqi & Faruqi, LLP Securities, encourages investors who suffered losses greater than $50,000 in the match to contact him directly to discuss their options
If you suffered losses greater than $50,000 in Phosphorus between May 2, 2023 and November 6, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly in 877-247-4292 either 212-983-9330 (extension 1310).
[You may also click here for additional information]
New York, New York–(Newsfile Corp. – December 15, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Match Group (NASDAQ:), Inc. (“Match” or the “Company”) (NASDAQ: MTCH) and reminds investors of the Deadline of January 24, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the lawsuit alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Match Group materially underestimated the challenges affecting Tinder and, as a result, underestimated the risk that Tinder’s monthly active user count would not recover when the Company 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 relevant times.
On November 7, 2024, Investopedia published an article titled “Match Group Shares Fall as Q4 Outlook Disappoints.” This article said that “[s]Online dating giant Match Group’s hares fell Thursday morning despite third-quarter earnings being released after the bell on Wednesday. [. . .] Match said Tinder Direct’s revenue fell short of its own expectations, as the app’s monthly active users (MAU) declined 9% from the same period last year and its revenue per payer (RPP) grew less than what was expected. “Some new features tested with Tinder users in the quarter negatively impacted subscription revenue, which the company believes will likely also impact fourth-quarter revenue.”
On this news, Match Group’s share price fell 17.8% to close at $31.11 per share on November 7, 2024.
The court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class, which is appropriate and typical of class members directing and overseeing the litigation on behalf of the putative class. Any member of the putative class may ask the Court to serve as lead plaintiff through counsel of his or her choice, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision of whether or not to serve as lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information about Match’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Follow us for updates on LinkedIn, X or Facebook (NASDAQ:).
Lawyer advertising. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We appreciate the opportunity to discuss your particular case. All communications will be treated confidentially.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233772