Bumble, Inc. (NASDAQ: BMBL)

This lawsuit is for anyone who acquired securities in Bumble Inc. (NASDAQ: BMBL) from November 7, 2023 through August 7, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely inform investors that the launch of the Company’s Premium Plus subscription tier was not going well.

On February 27, 2024, Bumble released its fourth quarter 2023 financial results, falling short of expectations. The Company stated that the recently-launched Premium Plus subscription tier would be revamped as part of a planned Bumble app relaunch, as it “did not have a clear enough market fit” at launch. Additionally, the Company lowered its guidance for 2024. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on August 7, 2024, Bumble released its second quarter 2024 financial results, disclosing that the app relaunch was not going to plan and that the Company would need to “reset” its outlook to refocus on the “consumer ecosystem” and “rebalance Bumble subscription tiers,” including a pause in the revamp of the Premium Plus tier. The Company also cut its full year 2024 guidance for a second time. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Bumble Inc. (NASDAQ: BMBL) from November 7, 2023 through August 7, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.