New York, New York--(Newsfile Corp. - October 16, 2019) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Match Group, Inc. (NASDAQ: MTCH) ("Match" or the "Company") of the December 2, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
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If you invested in Match stock or options between August 6, 2019 and September 25, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/MTCH. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Northern District of Texas on behalf of all those who purchased Match securities between August 6, 2019 and September 25, 2019 (the "Class Period"). The case, Crutchfield v. Match Group, Inc. et al., No. 19-cv-02356 was filed on October 3, 2019, and has been assigned to Senior Judge Sam R. Cummings.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose: (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 September 25, 2019, The Federal Trade Commission ("FTC") announced that it had sued Match.com for, among other things, using artificial love interest ads to deceive consumers into buying or upgrading subscriptions, failing to resolve disputed charges, and intentionally making it difficult to cancel subscriptions.
On this news, Match's share price fell from $72.83 per share on September 24, 2019 to a closing price of $71.44 on September 25, 2019: a $1.39 or a 1.91% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Match's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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