NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of securities of Bumble Inc. (NASDAQ: BMBL) between November 7, 2023 and August 7, 2024. Bumble describes itself as a “dating app, and proclaims to be one of the first dating apps built with women at the center.”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Bumble Inc. (NASDAQ: BMBL) Misled Investors Regarding its Business Operations.
According to the lawsuit, during the Class Period, defendants created the false impression that they possessed reliable information pertaining to Bumble’s projected revenue outlook and anticipated growth on the back of its tiered-subscription options and subsequent app relaunch, while also downplaying the potential disruption to Bumble’s brand and reputation caused by the imminent change in leadership. In truth, Bumble’s Premium Plus subscription plan did not have a clear market fit and would very quickly need to be revamped. Bumble’s tiered-subscription options were ill equipped to provide the claimed revenue per user benefit to Bumble’s faltering market share, particularly regarding user growth and monetization. Defendants misled investors by providing the public with materially flawed statements of confidence and growth projections which did not account for these variables. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Bumble Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by November 25, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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