NEW ORLEANS, March 07, 2022 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and his KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they have until March 25, 2022 to file lead plaintiff claims in a securities class action lawsuit against Bumble Inc. (NasdaqGS: BMBL), if they purchased the company’s Class A common stock directly through its secondary public offering of shares of September 2021 (the “SPO”). This action is pending in the United States District Court for the Southern District of New York.
What you can do
If you have purchased shares of Bumble as above and would like to discuss your legal rights and how this matter may affect you and your right to recover your economic loss, you may, at no obligation or cost to you , contact KSF Managing Partner Lewis Kahn toll-free. -toll free at 1-877-515-1850 or by email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-bmbl/ to learn more. If you wish to act as lead plaintiff in this class action, you must submit a motion to the court in March 25, 2022.
About the trial
Bumble and some of its executives are accused of failing to disclose material information in its SPO registration statement, in violation of federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company’s paid user growth trends abruptly reversed in 3Q21 and it actually lost tens of thousands of paying users during the quarter; (ii) paid users had been more reluctant to sign up for the Bumble app during 3Q21 due to recent price increases for paid services on the app; (iii) that a significant number of paying users were leaving the Badoo App and/or were unable to make payments through the Badoo App due, in large part, to issues resulting from the transition of the payment platform from the society ; and (iv) as a result of the foregoing, the Company’s business parameters and financial outlook were not as strong as the registration statement had represented.
The case is UA Local 13 Pension Fund v. Bumble Inc., No. 22-cv-00624.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – in seeking recoveries for investment losses resulting from corporate fraud or malfeasance by listed companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you can visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras Street, Suite 3200
New Orleans, LA 70163