LAW360 - A Bumble investor has filed suit in Delaware against the company, founder Whitney Wolfe Herd, and its former private equity sponsor, Blackstone Inc., claiming the online dating company's dual-class stock structure stretches the law "beyond its breaking point." Bumble has created a new shareholder voting structure that violates Delaware corporate law by allocating voting power based on the identity of the shareholder rather than the number of shares, the complaint alleges.
by Leslie A. Pappas
See full article at Law360
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