LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Bumble Inc. (“Bumble” or the “Company”) (NASDAQ: BMBL) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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Bumble conducted its Secondary Public Offering (“SPO”) in September 2021. 20.7 million shares of Class A common stock were sold in the SPO at $54 per share.
On November 10, 2021, Bumble announced its financial results for the third quarter of 2021, revealing that the Company’s total paying user count had declined to 2.86 million, well below the 2.9 million users reported in the SPO registration statement.
On this news, Bumble’s share price fell $9.19, or 19.2%, to close at $38.56 per share on November 11, 2021, injuring investors. By January 25, 2022, Bumble shares have traded below $27 per share, less than half of the original SPO price.
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If you purchased Bumble securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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