Investors began to learn the truth about Match Group, Inc. ("Match") on August 2, 2022, when it announced financial results for the second quarter of 2022 and warned that it expected Tinder’s growth to slow in the second half of 2022 as the result of poor execution. Specifically, Defendants admitted that “Tinder did not deliver on its product roadmap for the first half of the year,” forcing Match to delay the launch of several initiatives and optimizations that it had previously expected to generate growth in 2022. Following this news, the price of Match common stock declined $13.47 per share, or more than 17%, from a close of $76.71 per share on August 2, 2022, to close at $63.24 per share on August 3, 2022.

Then, on January 31, 2023, Match reported disappointing financial results for 2022, including total revenue that missed Match’s prior guidance. The defendants largely attributed the shortfall to “weaker-than-expected product execution at Tinder, the effects of which became more pronounced as the year progressed.” During an earnings conference call the following day, the defendants further admitted that Tinder had “decelerated as the year went on.” Following this news, the price of Match common stock declined $2.71 per share, or 5%, from a close of $54.12 per share on January 31, 2023, to close at $51.41 per share on February 1, 2023.

Investors who purchased or acquired Match securities between November 3, 2021 and January 31, 2023, may no later than May 5, 2023, seek to be appointed as a lead plaintiff representative of the class.