The Gross Law Firm Notifies Shareholders of Bumble Inc.(BMBL) of a Class Action Lawsuit and an Upcoming Deadline

Core Viewpoint - Bumble Inc. is facing a class action lawsuit due to allegations of misleading statements regarding its relaunch strategy and subscription offerings, which led to inflated stock prices and subsequent declines following disappointing financial results [2][3]. Group 1: Allegations and Financial Impact - The lawsuit claims that Bumble provided overly positive statements while concealing material adverse facts about its relaunch strategy, including issues with the Premium Plus subscription tier [2]. - Following the release of disappointing fourth quarter fiscal 2023 results on February 27, 2024, Bumble's stock price fell from $13.18 to $11.23 per share [2]. - On August 7, 2024, Bumble announced mixed second quarter results and revealed that the app relaunch was not proceeding as planned, leading to a further stock price drop from $8.06 to $5.71 per share [2]. Group 2: Class Action Details - The class period for the lawsuit is defined as November 7, 2023, to August 7, 2024, and shareholders are encouraged to register for participation [3]. - The deadline for shareholders to seek lead plaintiff status is November 25, 2024, and there is no cost to participate in the case [3]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case [3]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [4]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [4].