The co-founders and early employees of the popular dating site Tinder have filed a lawsuit against owner Iac/InterActiveCorp and its Match Inc subsidiary, claiming Iac conspired to cheat the plaintiffs out of billions of dollars in stock options.
The suit, (read it here), filed Tuesday in the New York State Supreme Court in Manhattan, said Iac and Match deliberately offered “false, misleading and incomplete financial information and projections” in order to keep Tinder’s value low, thereby limiting its equity exposure. The lawsuit says Iac and Match downplayed Tinder’s success in private to lower the valuation but boasted about it in public when it helped the stock price, so “Defendants could enrich themselves by talking out of both sides of their mouths.”
The 10 plaintiffs include Tinder co-founders Sean Rad and Jonathan Badeen. They are seeking at least $2 billion in damages and a jury trial.
Iac and Match issued a statement,...
The suit, (read it here), filed Tuesday in the New York State Supreme Court in Manhattan, said Iac and Match deliberately offered “false, misleading and incomplete financial information and projections” in order to keep Tinder’s value low, thereby limiting its equity exposure. The lawsuit says Iac and Match downplayed Tinder’s success in private to lower the valuation but boasted about it in public when it helped the stock price, so “Defendants could enrich themselves by talking out of both sides of their mouths.”
The 10 plaintiffs include Tinder co-founders Sean Rad and Jonathan Badeen. They are seeking at least $2 billion in damages and a jury trial.
Iac and Match issued a statement,...
- 8/15/2018
- by Patrick Hipes
- Deadline Film + TV
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