NATIONAL TRIAL ATTORNEYS HAGENS BERMAN encourages Bumble (BMBL) investors with losses to contact company attorneys, securities class action lawsuit filed

SAN FRANCISCO, January 27, 2022 /PRNewswire/ — Hagens Berman advises investors of Bumble Inc. (NASDAQ: BMBL) that a securities class action lawsuit has been filed and urges investors suffering significant losses to submit your losses now.

Class period: September 9, 2021January 24, 2022
Lead Applicant Deadline: March 25, 2022
Visit: www.hbsslaw.com/investor-fraud/BMBL
Contact a lawyer now: [email protected]
844-916-0895

Bumble Inc. (BMBL) Securities Class Action:

The lawsuit focuses on statements contained in Bumble’s SPO registration statement that allowed Blackstone Group and certain affiliates to sell approximately 20.7 million shares of Bumble stock to the investing public at $54 per share for total proceeds of approximately $1.1 billion.

Specifically, before and during Bumble’s SPO, Defendants claimed that Bumble was experiencing significant growth in its number of paying users for its two online dating platforms – the Bumble app and the Badoo app.

According to the complaint, the SPO’s registration statement was materially misleading because it failed to state that: (1) Bumble’s paid user growth trends abruptly reversed in Q3 2021 and Bumble lost dozens of thousands of paying users during the quarter; (2) paid users were more reluctant to sign up for the Bumble app during the quarter due to recent price increases for paid services on the app; (3) a significant number of paying users were leaving the Badoo app and/or unable to make payments through the app due, in large part, to issues resulting from Bumble’s transition of its payment platform; and, (4) as a result, Bumble’s business metrics and financial outlook were not as strong as the registration statement had represented.

At November 10, 2021Bumble announced its third quarter 2021 financial results and revealed that the total number of paid users of Bumble decreased from the previous quarter by several tens of thousands of paid users, causing the price of Bumble shares to fall.

“We focus on investor losses and prove that Bumble’s SPO registration statement was misleading because it did not disclose the slowing growth of paid users,” said Reed KathreinHagens Berman’s associate leading the investigation.

If you have invested in Bumble and are suffering significant losses, or have knowledge that may help the company’s investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: People with nonpublic information about Bumble should consider their options to help with the investigation or take advantage of the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30% of any successful recovery made by the SEC. For more information contact Reed Kathrein at 844-916-0895 or by e-mail to:[email protected].

About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities nationwide and more than eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. To learn more about the company and its successes, visit hbsslaw.com. For the latest news, visit our writing or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein844-916-0895

SOURCE Hagens Berman Sobol Shapiro LLP

Robert D. Coleman