Match Group, Inc. (NasdaqGS: MTCH)
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 5, 2023 to file lead plaintiff applications in a securities class action lawsuit against Match Group, Inc. (NasdaqGS: MTCH).
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.
The case is Bardaji v. Match Group, Inc., et al., No. 1:23-cv-00245.