Law Offices of Howard G. Smith reminds investors of the upcoming January 24, 2025 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Match Group, Inc. (“Match Group” or the “Company”) (NASDAQ: MTCH) securities between May 2, 2023 and November 6, 2024, inclusive (the “Class Period”).
Investors suffering losses on their Match Group investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com.
On November 6, 2024, Match Group released its third quarter 2024 financial results, revealing Tinder Direct revenue coming in below expectations “driven by the under delivery of certain optimizations.” Specifically, the Company stated that certain initiatives rolled out in the third quarter “were well received by users but more cannibalistic to subscription revenue than expected” and impacted subscription revenue and will likely also have an impact on fourth quarter revenue.
On this news, Match’s stock price fell $6.77, or 17.8%, to close at $31.11 per share on November 7, 2024, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) 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; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Match Group securities during the Class Period, you may move the Court no later than January 24, 2025 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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