Case Background:
This is a federal securities class action on behalf of those who purchased or acquired Bumble Inc. (“Bumble”) Class A common stock directly in Bumble’s secondary public stock offering, which took place on September 10, 2021.
The complaint alleges that the Registration Statement failed to disclose to investors that: (1) Bumble’s paying user growth trends had abruptly reversed in the third quarter 2021 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 the third quarter 2021 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 of the foregoing, Bumble’s business metrics and financial prospects were not as strong as the Registration Statement had represented.
Current Status of Case:
On August 8, 2023, the Court issued an Order approving the settlement of this action. This action has concluded.
The deadline to file a claim is September 11, 2023. Please note that Kessler Topaz did not file a claim on your behalf. You may find additional information regarding the terms of the settlement and claim filing process at www.bumblesecuritieslitigation.com or by calling JND Legal Administration at 844-798-0752.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.