Bumble(BMBL) Prnewswire·2024-11-18 10:45Core 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 artificially inflated stock prices [2][4]. Group 1: Allegations and Impact - The class period for the lawsuit is from November 7, 2023, to August 7, 2024, during which Bumble allegedly provided positive statements while concealing material adverse facts about its Premium Plus subscription and app relaunch strategy [2]. - The company's stock price fell from 11.23 on February 28, 2024, following the announcement of disappointing fourth quarter fiscal 2023 results and the need to revamp the Premium Plus tier [2]. - On August 7, 2024, Bumble's stock price dropped from 5.71 the next day after announcing mixed second quarter results and a need to "reset" its outlook, indicating that the app relaunch was not proceeding as planned [2]. Group 2: Next Steps for Shareholders - Shareholders who purchased Bumble shares during the specified class period are encouraged to register for the class action by November 25, 2024, to potentially become lead plaintiffs [3]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case, with no cost or obligation to participate [3]. Group 3: Legal Representation - The Gross Law Firm is leading the class action, emphasizing its commitment to protecting investors' rights against deceit and fraud in business practices [4].