NEW YORK, Oct. 3, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Bumble, Inc. ("Bumble" or the "Company") (NASDAQ: BMBL). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Bumble and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until November 25, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Bumble securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On February 27, 2024, Bumble issued a press release reporting disappointing financial results for the fourth quarter of 2023. During a related earnings call, Bumble's management announced that the Company's Premium Plus tier, launched in December 2022, would be revamped in connection with a planned relaunch of the Bumble app, stating that the Premium Plus tier "did not have a clear enough market fit at launch." Consequently, Bumble lowered its guidance for full year 2024.
On this news, Bumble's stock price fell $1.95 per share, or 14.8%, to close at $11.23 per share on February 28, 2024.
Then, on August 7, 2024, Bumble issued a press release announcing mixed results for the second quarter of 2024. During the related earnings call, Bumble's management disclosed that the app relaunch was not going according to plan and that the Company intended 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. Bumble also again lowered its guidance for full year 2024.
On this news, Bumble's stock price fell $2.35 per share, or 29.16%, to close at $5.71 per share on August 8, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
