NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Bumble Inc. (“Bumble” or the “Company”) (NASDAQ: BMBL) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Bumble securities pursuant and/or traceable to the September 10, 2021 SPO. Investors have until March 25, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Click here to participate in the action.
According to the lawsuit, the SPO’s registration statement contained inaccurate statements of material fact because it failed to disclose that: (1) Bumble’s paying user growth trends had abruptly reversed in 3Q21 and Bumble had actually lost tens of thousands of paying users during the quarter; (2) paying users had been more reluctant to sign up for the Bumble app during 3Q21 because of the recent price hike for paid services on the app; (3) a material number of paying users were leaving the Badoo app and/or could not make payments through the Badoo app due, in substantial part, to problems arising from Bumble’s transition of its payment platform; and (4) as a result, Bumble’s business metrics and financial prospects were not as strong as the registration statement had represented. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you purchased or otherwise acquired Bumble shares and suffered a loss, are a long-term stockholder, have information, 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 Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
