IAC, Match Must Face Tinder Founders' Trimmed $2B Suit

Law360 (June 14, 2019, 10:08 PM EDT) -- A New York state court on Thursday pared back, but declined to dismiss, a $2 billion suit alleging online entertainment companies IAC and Match Group Inc. deliberately tanked the valuation of the Tinder dating app company, thereby lowering the value of employees’ stock options.

Judge Saliann Scarpulla denied IAC and Match’s request to dismiss all of the breach of contract claims lodged by a group of plaintiffs, including Tinder founders, early employees and executives, rejecting the companies’ main argument that the suit was time-barred. But she did throw out some of those claims with respect to siblings Justin and Alexa Mateen,...

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