Bumble Inc. founder Whitney Wolfe Herd and her backers at Blackstone Inc. must face claims of insider trading from investors, a Delaware judge has ruled.
The investors, led by a police pension fund, have done enough to establish reason to doubt that Wolfe Herd and two other Bumble board members could have acted independently from Blackstone regarding the September 2021 stock offering that let the private equity giant make sales worth $1.1 billion, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery said Tuesday, ruling from the bench after a brief hearing.
“When it comes to Ms. Wolfe ...
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