NEW YORK, April 8, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Match Group, Inc. (“Match” or the “Company”) MTCH. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Match and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On August 2, 2022, Match announced its financial results for the second quarter of 2022 and warned that it expects the growth of Tinder, its largest and most important brand, to slow in the second half of 2022 due to poor product execution. Notably, the company acknowledges that “Tinder failed to meet its product roadmap for the first half of the year,” forcing Match to delay the launch of several initiatives and optimizations that it previously expected to generate growth in 2022 would.

As a result of this news, Match’s stock price fell $13.47 per share, or more than 17%, to close at $63.24 per share on August 3, 2022.

Then, on January 31, 2023, Match reported disappointing financial results for 2022, including total revenue that missed the company’s previous guidance. The company largely attributed the backlog to “a weaker than expected product execution at Tinder, the impact of which became more apparent as the year progressed.” During an earnings call the following day, Match further admitted that Tinder had “slowed down over the year.”

As a result of this news, Match’s stock price fell $2.71 per share, or 5%, to close at $51.41 per share on February 1, 2023.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as the dean of the Class Action Bar Association, Pomerantz pioneered the field of securities…