Dating App Giant Match Dodges Securities Fraud Suit For Now
Law360 (March 26, 2021, 10:39 PM EDT) -- A Texas federal judge axed a shareholder's proposed class action alleging that online dating company Match Group Inc. turned a blind eye to a fraudulent user base in favor of profit, finding that the investors failed to demonstrate that Match made false or misleading statements about its financial and operational conditions.
In a 45-page opinion, U.S. District Judge Karen Gren Scholer determined that although the shareholders illustrated that at least some fraudulent users paid for Match subscriptions, their argument nonetheless still fell short on the facts.
The amended complaint "fails to describe particularly or otherwise specifically allege the extent of such...
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