The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Bumble Inc. (NASDAQ: BMBL) who purchased directly in Bumble’s secondary public stock offering which took place on or about September 10, 2021. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
(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.
Shareholders have until March 25, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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