Panel Sizes Up Tinder Bid To Ax Founders' Suit In NY Appeal
Law360, New York (September 10, 2019, 9:41 PM EDT) -- A New York state appeals court on Tuesday took a good look at dating app Tinder's owners' contention that a lawsuit by the app's founders was filed too late and that their decision to cash out shares in the company barred their claims.
The app's founders, led by Sean Rad, claim that the entertainment companies that now control Tinder deliberately tanked the valuation of the app's company, thereby lowering the value of employees' stock options.
A five-judge panel of the First Judicial Department quizzed Tinder majority owners IAC/InterActiveCorp and Match Group Inc. on its briefs, peppering IAC with questions probing the...
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