Match Group Inc. Common Stock (NASDAQ: MTCH)
Match is a technology and social media company that operates one of the world’s largest portfolios of online dating brands and apps. Tinder, which generated more than half of Match’s revenue during the Class Period, is Match’s largest and most important brand. This Complaint 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 and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) the Company was not effectively executing on Tinder’s new product initiatives; (2) as a result, the Company was not on track to deliver Tinder’s planned product initiatives in 2022; and (3) therefore, Defendants’ statements about the Company’s business, operations, and prospects lacked a reasonable basis.