A Grindr Inc. director earned more than $200,000 in short-swing trading profits that must be returned to the dating app company, two shareholders say in a new lawsuit.
George Raymond Zage III and his investment funds traded Grindr common stock and warrants between Aug. 21 and Sept. 15 without an exception, according to the complaint. The investors, Revive Investing LLC and Calenture LLC, filed the suit Nov. 10 in the US District Court for the Southern District of New York.
The investors say that they asked Grindr to advance the claims itself, but that it responded to their letter by ...
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