NEW YORK, Oct. 21, 2019 /PRNewswire/ -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces the filing of a securities fraud class action on behalf of shareholders of Match Group, Inc. ("Match" or the "Company") (NASDAQ: MTCH) from August 6, 2019 through September 25, 2019, inclusive (the "Class Period").
If you purchased Match securities, and/or would like to discuss your legal rights and options please visit Match Shareholder Class Action or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company used fake love interest ads to convince customers to buy and upgrade subscriptions; (2) that the Company made it difficult and confusing for consumers to cancel their subscriptions; (3) that, as a result, the Company was reasonably likely to be subject to regulatory scrutiny; (4) that the Company lacked adequate disclosure controls and procedures; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
On September 25, 2019, The Federal Trade Commission ("FTC") announced that it had sued Match.com for, among other things, using artificial love interest ads to deceive consumers into buying or upgrading subscriptions, failing to resolve disputed charges, and intentionally making it difficult to cancel subscriptions.
On this news, the Company's share price fell $1.39 per share, or nearly 2%, to close at $71.44 per share on September 25, 2019, thereby injuring investors.
If you purchased Match securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/matchgroupinc-mtch-shareholder-class-action-lawsuit-stock-fraud-205/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
If you wish to serve as lead plaintiff, you must move the Court no later than December 2, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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SOURCE Bernstein Liebhard LLP