WILMINGTON, Del., March 04, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Match Group, Inc. (NASDAQ:MTCH)?
- Did you purchase your shares pursuant and/or traceable to the initial public offering on or about November 18, 2015?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Northern District of Texas on behalf of all persons or entities that purchased the common stock of Match Group, Inc. (“Match Group” or the “Company”) (NASDAQ:MTCH) pursuant or traceable to its initial public offering (“IPO”) commenced on or about November 18, 2015, alleging violations of the Securities Exchange Act of 1933 against the Company, the sponsors of the IPO, and certain of the Company’s officers (the “Complaint”).
If you purchased shares of Match Group in connection with its IPO, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/match-group-inc-mtch.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on or about November 18, 2015, Match Group conducted its IPO of 33,333,333 shares at $12.00 per share for total proceeds of approximately $400 million. Then, on February 2, 2016, Match Group revealed to investors a decline in total user growth and per-user revenue, and the cannibalization of users and revenues across competing platforms. Further, the Company disclosed that its net income has consistently fallen and that there had been a decline in revenue in their Princeton Review segment.
On this news, shares in Match Group dropped over 19% in the following days, closing at $9.76 per share on February 4, 2016, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than April 26, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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