NEW YORK, Sept. 30, 2024 /PRNewswire/ -- Moore Law, PLLC, a shareholder litigation law firm located on Wall Street, is investigating potential claims against:
- Bumble Inc. ("Bumble" or the "Company") (NASDAQ: BMBL)
Shareholders should email Fletcher@fmoorelaw.com
The investigation concerns positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning Bumble's relaunch strategy, including: Premium Plus and base tiers, focused engagement and more personalized experiences for younger users, and enhancing premium offerings for paid subscription members. The truth began to emerge on February 27, 2024, when Bumble issued a press release reporting disappointing fourth quarter fiscal 2023 results despite the recent launch of the Premium Plus subscription tier in December 2022. During the subsequent earnings call, management announced that the Premium Plus tier would be revamped as part of the planned Bumble app relaunch, as it "did not have a clear enough market fit" at launch.
On August 7, 2024, Bumble issued a press release announcing second quarter 2024 results. During the earnings call, Bumble disclosed that the app relaunch was not going to plan and the Company would need to "reset" its outlook to refocus on the "consumer ecosystem" and "rebalance Bumble subscription tiers," including a pause in the revamp of the poorly received Premium Plus tier.
On this news, Bumble cut its fiscal year guidance for a second time. The price of Bumble stock declined from $8.06 per share on August 7, 2024 to $5.71 per share on August 8, 2024.
If you own Bumble Inc. ("Bumble" or the "Company") (NASDAQ: BMBL), please contact Fletcher Moore by email at fletcher@fmoorelaw.com or (212) 709-8245.
ABOUT MOORE LAW PLLC
Moore Law is a NYC plaintiff litigation law firm for investors. We hold officers and directors accountable for breaches of fiduciary duty, fraud, insider trading, wasteful spending, and other corporate malfeasance. There is no cost to you. Our investor cases are contingency only.
Fletcher Moore, Esq.
Moore Law, PLLC
fletcher@fmoorelaw.com
www.fmoorelaw.com
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