Seven current and former executives at Tinder along with the company’s original founders have filed suit against the parent companies of the dating app seeking $2 billion in damages. The lawsuit alleges that the firms undermined the app’s valuation to prevent them from receiving billions of dollars in stock options.
The suit was filed Tuesday, August 14 in New York state court against IAC/InterActiveCorp and its subsidiary Match Group Inc.
The plaintiffs assert that the parent companies repeatedly falsified financial information to reduce the apparent valuation of the application’s stock which resulted in significantly smaller payouts to the founders and executives.
Parent companies, IAC and Match, rebutted that they have paid Tinder’s founders and employees billions of dollars in equity compensation and that the valuation process was conducted properly with independent oversight from two investment banks.
A man was tragically killed in a motorcycle accident on Hamilton Avenue at Magnolia Street…
One person was tragically killed and three others injured when a motor vehicle struck a…
A devastating crash occurred on the Interstate 5 Freeway in Orange County, leaving one person…
A bicyclist with a small dog in his basket was struck and killed by a…
A fatal multi-vehicle crash in Irvine happened early Monday on the northbound Interstate 5 Freeway,…
In an incident near Tustin in Orange County, a pedestrian lost their life on Monday…
This website uses cookies.