Bumble Investor Alert: Kaplan Fox Investigates Potential Securities Fraud at Bumble, Inc.

Wednesday, 26. January 2022 23:39

NEW YORK, Jan. 26, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Bumble, Inc. (“Bumble” or the “Company”) (NASDAQ: BMBL). A complaint has been filed on behalf of investors who purchased the Company's Class A common stock directly in its September 2021 secondary public stock offering (the "SPO").

On or around September 10, 2021, Bumble conducted its SPO in which its controlling shareholder Blackstone Group Inc. sold 20.7 million shares of Bumble Class A common stock to the public at $54.00 per share.

Then, on November 10, 2021, Bumble announced its third quarter 2021 financial results for the quarter ending September 30, 2021, disclosing that rather than growing paying users, Bumble's total paying user count had actually declined to 2.86 million. According to the complaint, this was well below the 2.9 million paying users as of June 30, 2021 that Bumble had reported in the SPO's Registration Statement.

Following this news, Bumble’s share price fell $9.19, or about 19.2%, to close at $38.56 per share on November 11, 2021. According to the complaint, by January 24, 2022, Bumble Class A common stock traded below $27 per share, a decline of more than 50% from the SPO price.

If you are a member of the proposed Class, you may move the court no later than March 25, 2022 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:

Frederic S. Fox
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 687-1980
E-mail: ffox@kaplanfox.com

Laurence D. King
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com

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