The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been filed on behalf of investors who purchased the Class A common stock of Bumble Inc. (“Bumble” or the “Company”) (Nasdaq: BMBL) issued in connection with its Secondary Public Offering (“SPO”) conducted on or about September 10, 2021.
If you purchased Bumble Class A common stock issued in connection with the SPO, you may move the Court for appointment as lead plaintiff by no later than March 25, 2022. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Bumble investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should click here, text or email investorinfo@lchb.com, or call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358.
Background on the Bumble Securities Class Litigation
Bumble, headquartered in Austin, Texas, operates the Bumble app and Badoo app online dating platforms.
The action alleges that the registration statement that Bumble filed with the Securities Exchange Commission in connection with the SPO failed to disclose that: (1) Bumble had in fact lost tens of thousands of paying users during the third quarter of 2021; (2) a price hike for paid services on the Bumble app deterred the app’s users from signing up for such services; (3) a significant number of paying users were departing the Badoo app and/or were unable to make payments because of issues arising from the Company’s transition of its payment platform; and (4) as a result, Bumble’s business metrics and prospects were weaker than represented in the registration statement.
On November 10, 2021, the Company announced its third quarter of 2021 financial results, disclosing that Bumble’s total paying user count had declined to 2.86 million, below the 2.9 million paying users as of June 30, 2021 that the Company had touted in the SPO registration statement.
By January 24, 2022, when the action was filed, Bumble Class A common stock was trading under $27 per share, less than half of the SPO offering price.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Munich, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” Benchmark Litigation has named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”
For more information about Lieff Cabraser and the firm’s representation of investors, please visit https://www.lieffcabraser.com/.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220210005852/en/
#BMBL INVESTORS: March 25, 2022 Filing Deadline in #Securities #ClassAction – Contact Lieff Cabraser $BMBL #Bumble
Contacts
Source/Contact for Media Inquiries Only
Sharon M. Lee
Lieff Cabraser Heimann & Bernstein, LLP
Telephone: 1-800-541-7358
