BLOOMBERG LAW - Bumble misled investors about the loss of paying dating app users ahead of its Sep 2021 secondary public offering, a new suit alleges in federal court in New York. The company didn't disclose how its "previous favorable paying user growth trend had abruptly reversed" in the fiscal quarter leading up to the Sept. 10 offering. Bumble had lost tens of thousands of paying users during Q3 2021. Paying users had been more reluctant to sign up for the Bumble app during the quarter because of the recent price hike for paid services.
by Jennifer Bennett
See full article at Bloomberg Law