SAN DIEGO , Nov. 26, 2024 /PRNewswire/ -- 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. For more information, submit a form , email attorney Aaron Dumas, Jr. , or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Match Group, Inc. (MTCH) Misled Investors Regarding its Business Prospects 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.