BLOOMBERG LAW - A shareholder lawsuit has been filed against Bumble, alleging that founder Whitney Wolfe Herd and the board made misleading statements about expected revenue growth from new app features. The suit, filed by Carmela Harnum in the U.S. District Court for the Western District of Texas, claims these statements led to inflated stock prices, causing financial losses when disappointing earnings were reported. Bumble's stock dropped from $13.18 to $11.23 in February 2024 and from $8.06 to $5.71 in August 2024 following poor financial results. This is the third such lawsuit against Bumble in recent months. The company has not commented.
by Ryan Autullo
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