Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of Delaware on behalf of shareholders of Match Group, Inc. (NasdaqGS: MTCH) who purchased shares between November 3, 2021 and January 31, 2023.
Match and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 31, 2023, the Company reported disappointing financial results for 2022, including total revenue growth of only 7% YOY, well below its target range in the mid- to high-teens, due to “weaker-than-expected product execution at Tinder [the Company’s largest brand that accounts for more than half of its revenue], the effects of which became more pronounced as the year progressed.”
On this news, shares of Match fell $2.71 per share, or 5%, from a close of $54.12 per share on January 31, 2023, to close at $51.41 per share on February 1, 2023.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until May 5, 2023 to request that the court appoint them lead plaintiff.