Bumble Inc. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Bumble Inc. (NASDAQ: BMBL) directly in Bumble’s secondary public stock offering which took place on or about September 10, 2021.
According to the Bumble lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (a) Bumble’s paying user growth trends had abruptly reversed in 3Q21 and the Company had actually lost tens of thousands of paying users during the quarter; (b) 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; (c) a material number of paying users were leaving the Badoo app, a dating-focused social network, and/or could not make payments through the Badoo app due, in substantial part, to problems arising from the Company’s transition of its payment platform; and (d) as a result of the foregoing, Bumble’s business metrics and financial prospects were not as strong as the Registration Statement had represented.
If you suffered a loss in Bumble you have until March 25, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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