Robbins LLP is Investigating Allegations that Match Group, Inc. (MTCH) Misled Investors Regarding its Business Prospects

Robbins LLP informs investors that a class action was filed on behalf of persons and entities who purchased or otherwise acquired Match Group, Inc. (NASDAQ: MTCH) securities between May  2, 2023 and November 6, 2024. Match Group, through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections.

The Allegations

According to the complaint, on November 6, 2024, Match Group published its Q3 2024 shareholder letter, disclosing that Tinder's monthly active user count was down 9% in Q3, which was the same rate of decline as in Q2, falling short of expectations for continued improvement. Further, Match Group's revenue per payer grew less than expected and some new features tested with Tinder users in the quarter negatively impacted subscription revenue, which the company said will likely also have an impact on fourth quarter revenue.

Plaintiff alleges that 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. On this news, the price of Match stock fell by $6.77 per share, or 17.8%, to close at $31.11 per share on November 7, 2024.

What Now: You may be eligible to participate in the class action against Match Group, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by January 24, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.