According to the lawsuit, the SPO’s registration statement contained inaccurate statements of material fact because they failed to disclose that:
- 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;
- 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;
- 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
- as a result, Bumble’s business metrics and financial prospects were not as strong as the registration statement had represented.
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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