The online dating service Bumble misled shareholders through overly optimistic revenue and other financial metrics projections, a new complaint filed by an investor alleges.
In late February, Bumble announced its full-year 2024 guidance of 8% to 11% revenue growth. In August, it slashed that guidance to 1% to 2%.
Rosy statements about growth made by the company in earnings calls and during investor conferences caused the plaintiff, Sean Gavin, to buy shares “at artificially inflated prices,” he said. Based on the statements Gavin believed Bumble was on a trajectory toward positive earnings, the complaint said.
The company reamped its offerings ...
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