NEW YORK, April 6, 2016 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Match Group, Inc. ("Match Group" or the "Company") (NASDAQ: MTCH) of the April 26, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers of the Company and the underwriters of the Company's initial public offering (the "IPO").
The lawsuit has been filed in the U.S. District Court for the Northern District of Texas on behalf of all those who purchased Match Group securities pursuant or traceable to the Company's Registration Statement and its Prospectus issued in connection with the Company's IPO, which commenced on or about November 20, 2015 (the "Class Period"). The case, Stein v. Match Group, Inc., et al., No. 3:16-cv-00549 was filed on February 26, 2016, and has been assigned to Judge Sam A. Lindsay.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by allegedly making false statements and failing to disclose adverse facts regarding the Company's business and prospects in its Registration Statement and Prospectus, such as: (1) the Company's non-dating revenue had declined; (2) Match Group's Average Revenue per Paying User had decreased; and (3) that there had been a decline in revenue in the Company's Princeton Review segments.
Specifically, on February 2, 2016, Match Group issued a press release announcing its fourth quarter and full year 2015 financial results, missing analysts' revenue estimates.
On this news, the Company's share price fell $1.53 per share on unusually high trading volume to close at $10.66 per share, a 12.5% drop, on February 3, 2016.
Request more information now by clicking here: www.faruqilaw.com/MTCH. There is no cost or obligation to you.
If you invested in Match Group common stock or options pursuant or traceable to the Company's Registration Statement and its Prospectus issued in connection with the Company's IPO, which commenced on or about November 20, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/MTCH. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Match Group's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
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FARUQI & FARUQI, LLP
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Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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