Bumble Inc. was hit with a proposed securities class action Tuesday alleging materially false and misleading statements about the company’s business operations and prospects, including on the relaunch of its dating app.
Specifically, company leadership allegedly overstated Bumble’s growth prospects related to the launch of its Premium Plus subscription tier and planned relaunch of the Bumble dating app. The lawsuit claims that these statements artificially inflated the price of Bumble’s stock, causing damages to investors when the truth was revealed through a series of corrective disclosures beginning on Feb. 27, 2024.
The complaint asserts claims for violations of Sections 10(b) ...
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