NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Texas on behalf of all investors that purchased Match Group, Inc. (NASDAQ: MTCH) securities between August 6, 2019 and September 25, 2019 (the “Class Period”). Investors have until December 2, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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On September 25, 2019, The Federal Trade Commission (FTC) announced that it had sued Match.com for, among other things, using artificial love interest ads to deceive consumers into buying or upgrading subscriptions, failing to resolve disputed charges, and intentionally making it difficult to cancel subscriptions.
On this news, the company’s share price fell $1.39 per share, or nearly 2%, to close at $71.44 per share on September 25, 2019.
The complaint, filed October 3, 2019, 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, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the company used fake love interest ads to convince customers to buy and upgrade subscriptions; (2) that the company made it difficult and confusing for consumers to cancel their subscriptions; (3) that, as a result, the company was reasonably likely to be subject to regulatory scrutiny; (4) that the company lacked adequate disclosure controls and procedures; and (5) that, as a result, defendants positive statements about the company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
If you purchased Match Group securities during the Class Period, continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Match Group lawsuit, please go to https://bespc.com/mtch. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.