Recent Security Class Actions

Bumble Inc. Class A Common Stock (NASDAQ: BMBL)

Company Name:Bumble Inc. Class A Common Stock
Stock Symbol:NASDAQ: BMBL
Class Period Start:09/10/2021
Class Period End (inclusive):01/24/2022
Filing Deadline:03/25/2022

The Complaint alleges that the SPO’s registration statement contained inaccurate statements of material fact because they failed to disclose that: (i) Bumble’s paying user growth trends had abruptly reversed in 3Q21 and Bumble had actually lost tens of thousands of paying users during the quarter; (ii) paying users had been more reluctant to sign up for the Bumble app during 3Q21 because of the recent price hike for paid services on the app; (iii) a material number of paying users were leaving the Badoo app and/or could not make payments through the Badoo app due, in substantial part, to problems arising from Bumble’s transition of its payment platform; and (iv) as a result, Bumble’s business metrics and financial prospects were not as strong as the registration statement had represented.