DENVER–(BUSINESS WIRE)–Shuman Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of Match Group, Inc. (“Match” or the “Company”) (Nasdaq: MTCH). Match provides dating products through various website and mobile applications.
The Firm’s investigation relates to the Federal Trade Commission’s (“FTC”) September 25, 2019 announcement that it is suing Match for its deceptive ads, as well as failing to resolve disputed charges and intentionally complicating its subscription cancellation process. The Firm is also investigating insider stock sales by officers and directors of Match for nearly $83 million while the FTC investigation was ongoing, but before the investigation was disclosed by the Company. Match is facing a related purported class action lawsuit which alleges that Match and certain of its officers failed to disclose that certain marketing practices relied on deceiving consumers through the use of artificial love interest ads to promote buying or upgrading subscriptions.
In addition, on December 2, 2019, it was reported that Columbia Journalism Investigations had concluded that dating apps owned by Match, including Tinder and OkCupid, do not screen whether users are sex offenders. Match’s stock has fallen from an all-time high of over $85 per share on August 19, 2019, and currently trades at approximately $66 per share.
If you currently own Match common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at email@example.com.
Shuman Glenn & Stecker represents investors throughout the nation, concentrating its practice in stockholder litigation.