An investor sued Bumble Inc. founder Whitney Wolfe Herd and its backers at Blackstone Inc., claiming they hid a decline in users while engineering a stock offering that let the private equity giant make insider sales worth $1.1 billion.
The shareholder derivative lawsuit, made public Tuesday in Delaware’s Chancery Court, also names other Bumble board members as defendants. It largely echoes allegations from an ongoing federal securities case brought in Manhattan early last year by a group of pension funds.
The new suit, filed by an individual investor, accuses Wolfe Herd and other company leaders of hyping the secondary public ...
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