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.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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